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RD Sharma Solutions Class 8 Mathematics Solutions for Compound Interest Exercise 14.2 in Chapter 14 - Compound Interest
Prev
Find the compound interest at the rate of 5% for three years on that principalwhich in three years at the rate of 5% per annum gives Rs. 12000 as simple interest.
Answer:
Given details are,
Simple interest (SI) = Rs 12000
Rate (r) = 5% per annum
Time (t) = 3 years
SI = (PTR)/100
P = (SI×100) / (T×R)
= (12000×100) / (3×5)
= 1200000/15
= 80000
By using the formula,
A = P (1 + R/100)^n
= 80000 (1 + 5/100)^3
= 80000 (105/100)^3
= Rs 92610
∴ CI = Rs 92610 – 80000 = Rs 12610
Video transcript
hello students welcome to lido's question and answer classroom my name is shai safirozi class and today we are going to find out the compound interest but before we start with this let's see what the question says the question says find the compound interest at the rate of five percent that is rate or rate is given as five percent for three years so that this time period is given as three years on that principle so we don't know what is the principle which in three years at the rate of five percent per annum gives rupees 12 000 as simple interest so our simple interest is given as 12 000 then we need to find out the compound interest but with the same rate with the same period okay so let's quickly jot down the details whatever is given to us so simple interest is rupees twelve thousand then my rate of interest is five percent per annum and my period that is i can either say it is t or n is for three years okay now since we want to find out the compound interest finally node compound interest formula is amount minus principle but we don't have amount we don't have principle so what we are going to do is we are going to find out the amount also as well as the principle principle we can find out by simple interest so let's quickly first write down the simple interest which is given to us so i know that my simple interest formula is p into r into t upon 100 so my principle since i want to find out the principle let's quickly transpose so it becomes simple interest multiplied by 100 upon rate into the time period as i know that my simple interest is 12 000 so i'm substituting the values upon rate that is 5 into time period is three on calculation of this whole thing that is twelve thousand two zeros and five threes of fifteen i am going to get my answer as eighty thousand okay so this is my principle that is 80 000. so i've got my principle now let's quickly find out the amount okay so my for amount formula i will have amount is equals to principle p 1 plus r upon 100 raised to n that is time period so my principle as i know that i've got my principal as 80 000 i'm going to put 80 000 one plus my rate of interest is 5 upon 100 raised to period is 3 years so i'll get 80 000 and now as you all know that you have to take an lcm over here so 100 100 would be the lsm so it will be 100 plus 5 that is 105 up 100 so i'll write down into 105 upon 100 now this is three times so i'm going to multiply it three times and i am going to get 80 000 in 205 upon 100 into 105 upon 100 into 105 upon 100 so therefore on calculation of this whole but whole thing that is eighty thousand hundred and five one hundred tries after calculation i am going to get my answer as ninety two thousand six hundred and ten so ninety two thousand six hundred and ten okay so this is what my amount is now i've got my principle i've got my amount let's quickly take down over here so now you know that your compound enters amount minus principle so i'm just writing as compound interest would be equal to my amount is 92 610 minus my principal is 80 000 so on subtraction i am going to get my compound interest as 12 610 rupees this is also my amount so this is also in rupees this is also in rupees and this compounds also will be in my in rupees okay so this is my answer kindly note answer is 12 610 that's all for today see you all next time till then take care bye bye and please do comments it to leo and also subscribe to leo waiting for your comments bye
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