Worksheet on Compound Interest

In worksheet on compound interest we will solve different types of questions where compound interest is calculated annually, where compound interest is calculated half-yearly and where compound interest is calculated quarterly by using formulas.

A. Questions on compound interest without using formulas

1. Find the amount and the compound interest on $ 2500 for 2 years at 10% per annum, compounded annually. 

2. Find the amount and the compound interest on $ 16000 for 3 years at 5% per annum, compounded annually. 

3. Find the difference between the simple interest and the compound interest on $ 5000 for 2 years at 6% per annum. 

4. Roby obtained a loan of $ 25000 from the Syndicate Bank to renovate her house. If the rate of interest is 8% per annum, what amount will she have to pay to the bank after 2 years to discharge her debt? 

5. Henna borrowed $ 20000 from her friend Nancy at 12% per annum simple Interest. She lent it to Andy at the same rate but compounded annually. Find her gain after 2 years.

6. Mike deposited a sum of $ 64000 in a post office for 3 years, compounded annually at 7¹/₂ % per annum. What amount will he get on maturity?

7. David deposited a sum of $ 6250 in the ICICI Bank for 1 year, compounded half-yearly at 8% per annum. Find the compound interest he gets.

8. Mike borrowed $ 16000 from a finance company at 10% per annum, compounded half-yearly. What amount of money will discharge his debt after 1¹/₂ years?

B. Find the amount and the compound interest by using the formula in each of the following.

1. Principal = $ 6000, rate = 5% p.a. and time = 2 years.

2. Principal = $ 10000, rate = 11% p.a. and time = 2 years .

3. Principal = $ 4800, rate = 7¹/₂ % p.a. and time = 2 years.

4. Principal = $ 31250, rate = 8% p.a. and time = 3 years.

5. Principal = $ 6750, rate = 6²/₃ % p.a. and time = 3 years.

6. Principal = $ 62500, rate = 12 % p.a. and time = 3 years.

7. Principal = $ 15000, rate = 10% p.a. and time = 2 years.

8. Principal = $ 8000, time = 2 years and the rates being 9% per annum during the first year and 10% per annum during the second year.

9. Andy obtained a loan of $ 125000 from the Allahabad Bank for buying computers. The bank charges compound interest at 8% per annum, compounded annually. What amount will he have to pay after 3 years to clear the debt?

10. Three years ago, Brandon purchased a buffalo from Sam for $ 11000. What payment will discharge his debt now, the rate of interest being 10% per annum, compounded annually?

11. Shelly took a loan of $ 18000 from S.R Finance to purchase a TV set. If the company charges compound interest at 12% per annum during the first year and 12¹/₂% per annum during the second year, how much will she have to pay after 2 years?

12. Nancy borrowed $ 24000 from the State Bank to buy a scooter. If the rate of interest be 10% per annum compounded annually, what payment will she have to make after 2 years 3 months? Hint. 2 years 3 months = 2¹/₄ years.

13. Abby borrowed $ 16000 at 7¹/₂ % per annum simple interest. On the same day, he lent it to Gary at the same rate but compounded annually. What does he gain at the end of 2 years?

14. The simple interest on a sum of money for 2 years at 6% per annum is $ 900. What will be the compound interest on that sum at the same rate and for the same period?

15. The difference between the compound interest and the simple interest on a certain sum for 2 years at 5% per annum is $ 40. Find the sum.

16. The difference between the compound interest and the simple interest on a certain sum for 3 years at 10% per annum is $ 93. Find the sum.

17. A sum of money amounts to $ 10240 in 2 years at 6²/₃ % per annum, compounded, annually. Find the sum.

18. What sum of money will amount to $ 21296 in 3 years at 10% per annum, compounded annually?

19. At what rate per cent per annum will $ 4000 amount to $ 4410 in 2 years when compounded annually?

20. At what rate per cent per annum will $ 640 amount to $ 774.40 in 2 years when compounded annually?

21. In how many years will $ 1800 amount to $ 2178 at 10% per annum when compounded annually?

22. In how many years will $ 1600 amount to $ 1852.20 at 5% per annum when compounded annually?

C. Questions on compound interest by using the formula of interest compounded half-yearly and interest compounded quarterly.

1. Find the amount and the compound interest on $ 8000 for 1 year at 10% per annum, compounded half-yearly.

2. Find the amount and the compound interest on $ 31250 for 1¹/₂ years at 8% per annum, compounded half-yearly.

3. Find the amount and the compound interest on $ 12800 for 1 year at 7¹/₂ % per annum, compounded semi-annually.

4. Find the amount and the compound interest on $ 160000 for 2 years at 10% per annum, compounded half-yearly.

5. Sandy borrowed $ 40960 from a bank to buy a piece of land. If the bank charges 12¹/₂ % per annum, compounded half-yearly, what amount will she have to pay after 1¹/₂ years? Also find the interest paid by her.

6. Mike purchased a house from a lender on credit. If the cost of the house is $ 125000 and the lender charges interest at 12% per annum compounded half-yearly, find the interest paid by Aslam after a year and a half.

7. Shelly deposited $ 20000 in a bank where the interest is credited half-yearly. If the rate of interest paid by the bank is 6% per annum, what amount will she get after 1 year?

8. Nik lent $ 65536 for 2 years at 12¹/₂ % per annum, compounded annually. How much more could he earn if the interest were compounded half-yearly?

9. Sam deposited $ 32000 in a bank, where the interest is credited quarterly. If the rate of interest be 5% per annum, what amount will he receive after 6 months?

10. Andy took a loan of $ 390625 from Kathy Finance. If the company charges interest at 16% per annum, compounded quarterly, what amount will discharge his debt after one year?

Answers

A. 1. Amount = Rs 3025, CI = Rs 525   

2. Amount = Rs 18522, CI = Rs 2522 

3. Rs 18          

4. Rs 29160         

5. Rs 288         

6. Rs 79507

7. Rs 510         

8.Rs 18522


B. 1. Amount = Rs 6615, CI = Rs 615        

2. Amount = Rs 12321, CI = Rs 2321 

3. Amount = Rs 5547, CI = Rs 747      

4. Amount = Rs 39366, CI = Rs 8116 

5. Amount = Rs 8192, CI = Rs 1442    

6. Amount = Rs 87808, CI = Rs 25308
 
7. Amount = Rs 18150, CI = Rs 3150    

8. Amount = Rs 9592, CI = Rs 1592

9. Rs 157464         

10. Rs 14641         

11. Rs 22680.          

12. Rs 29766

13. Rs 90          

14. Rs 927         

15. Rs 16000         

16. Rs 3000 

17. Rs 9000         

18. Rs 16000         

19. 5% p.a.          

20. 10% p.a. 

21.2 years         

22. 3 years 


C. 1. Amount = Rs 8820, CI = Rs 820    

2. Amount = Rs 35 152. CI = Rs 3902

3. Amount = Rs 14792, CI = Rs 1992    

4. Amount = Rs 194481, CI = Rs 34481 

5. Amount = Rs 49130, CI = Rs 8170    

6. Rs 23877

7. Rs 21218 

8. Rs 577         

9. Rs 32805         

10. Rs 45697

● Compound Interest

Compound Interest

Compound Interest with Growing Principal

Compound Interest with Periodic Deductions

Compound Interest by Using Formula

Compound Interest when Interest is Compounded Yearly

Compound Interest when Interest is Compounded Half-Yearly

Compound Interest when Interest is Compounded Quarterly

Problems on Compound Interest

Variable Rate of Compound Interest

Difference of Compound Interest and Simple Interest

Practice Test on Compound Interest

Uniform Rate of Growth

Uniform Rate of Depreciation

Uniform Rate of Growth and Depreciation

● Compound Interest - Worksheet

Worksheet on Compound Interest

Worksheet on Compound Interest when Interest is Compounded Half-Yearly

Worksheet on Compound Interest with Growing Principal

Worksheet on Compound Interest with Periodic Deductions

Worksheet on Variable Rate of Compound Interest

Worksheet on Difference of Compound Interest and Simple Interest

Worksheet on Uniform Rate of Growth

Worksheet on Uniform Rate of Depreciation

Worksheet on Uniform Rate of Growth and Depreciation

8th Grade Math Practice

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