COMPOUND INTEREST CLASS 8

Find Simple interest on Rs. 2000 at 10% p.a. for 2 years.

• 200

• 400

• 100

• 800

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

• $7.50
• $26.25
• $87.5
• $262.50

Anna invested $2,500 at an annual rate of 5%.  How long will it take until Anna earns $1,125 in interest?

• 5 years
• 8 years
• 10 years
• 9 years

Interest can be defined as:

• a charge for lending money
• the amount owed for borrowing money
• the amount added into your savings account when opening a bank account
• a charge for convenience of accessing money in your bank

Calculate the interest.  I = PRT,
Principal = $10000,
Rate = 7%,
Time = 20 years

• 1400
• 1000
• 14000
• 14

Chelsea put $7500 into an account paying 5% compounded continuously. She now has $10,643.01. How long has the money been in the account?

• 7 years

• 6 years

• 5 years

• 4 years

In the compound interest formula A=P(1+r)^t what does the P stand for?

• The time

• The total amount

• The principal amount (original amount)

• The interest rate

What will be the compound interest on a sum of Rs.25,000 after 3 years at the rate of 12% per annum?

• Rs. 10483.20

• Rs. 10123.20

Find CI on Rs.12600 for 2 years at 10% per annum compounded annually.

• CI = Rs.2646

• CI = Rs.15246

Calculate the amount and compound interest on Rs 8,000 for 1 year at 9% per annum compounded half yearly.

• Amount = Rs.8,736.20

  
  

  Compound Interest = Rs. 736.20

• Amount = Rs.7,726.20

  
  

  Compound Interest = Rs. 736