Compound Interest (Without Using Formula)
ICSE · Class 9 · Mathematics
Most important questions from Compound Interest (Without Using Formula) for ICSE Class 9 Mathematics board exam 2026. MCQs, short answer, and long answer questions with marks.
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Which of the following statements are correct about compound interest?
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CI for first year equals SI for first year, CI increases each year on same principal, CI is always greater than SI after first year
In CI, first year interest equals SI. Each year's interest is calculated on growing amount, so CI increases yearly and exceeds SI after year 1.
If compound interest on ₹10,000 for 2 years is ₹2,100, what is the rate per annum?
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10%
Let rate = r%. Year 1: CI = 10000r/100. Year 2: CI = (10000+10000r/100)×r/100. Total CI = 10000r/100 + (10000r + 100r²)/10000 = 2100. Solving: r = 10%
Which calculations are needed to find compound interest for 3 years?
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Interest for year 1 on original principal, Interest for year 2 on year 1 amount, Interest for year 3 on year 2 amount, Sum of all yearly interests
CI calculation requires computing interest each year on the growing principal (amount from previous year), then summing all yearly interests.
₹15,000 invested at different rates: 12% for year 1, 15% for year 2. What is the amount after 2 years?
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₹19,320
Year 1: Interest = (15000×12)/100 = ₹1,800, Amount = ₹16,800. Year 2: Interest = (16800×15)/100 = ₹2,520, Amount = 16800 + 2520 = ₹19,320
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