ICSE Solutions for Class 10 Mathematics – Compound Interest
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Formulae
Formulae Based Questions
Question 1. Find the Compound Interest on Rs. 2,000 for 3 years at 15% per annum Compounded annually.
Question 2. If the interest is compounded half yearly, calculate the amount when the Principal is Rs. 7,400, the rate of interest is 5% per annum and the duration is one year.
Question 3. In how many years will Rs. 15,625 amount to Rs. 17,576 at 4% p.a., compound interest?
Question 4. The population of a city is 1,25,000. If the annual birth rate and death rate are 5.5% and 3.5% respectively. Calculate the population of the city after 3 years.
Question 5. There is a continuous growth in population of a village at the rate of 5% per annum. If its present population is 9,261, what population was 3 years ago?
Question 6. The population of a town 2 years ago was 62,500. Due to migration to cities, it decreases at the rate of 4% per annum. Find its present population.
Question. 7. The total number of industries in a particular portion of the country is approximately 1,600. If the government has decided to increase the number of industries in the area by 20% every year; find the approximate number of industries after 2 years.
Question 8. The cost of a machine depreciates by 10% every year. If its present worth is Rs.18,000; what will be its value after three years?
Question 9. 6000 workers were employed to construct a river bridge in four years. At the end of first year, 20% workers were retrenched; At the end of second year 5% of the workers at that time were retrenched. However, to complete the project in time, the number of workers was increased by 15% at the end of third year. How many workers were working during the fourth year?
Concept Based Questions
Question 1. The S.I. and C.I. on a sum of money for 2 years is Rs. 200 and 210 respectively. If the rate of interest is the same. Find the sum and rate.
Question 2. Find the difference between the simple interest and compound interest on 2,500 for 2 years at 4% p.a., compound interest being reckoned semi-annualy.
Question 3. A sum of money is lent out at compound interest for two years at 20% p.a., being reckoned yearly. If the same sum of the money was lent Gut at compound interest of the same rate of percent per annum C.I., being reckoned half yearly would have fetched Rs. 482 more by way of interest. Calculate the sum of money lent out.
Question 5. Mr. Kumar borrowed Rs. 15,000 for two years. The rate of interest for the two successive years are 8% and 10% respectively. If he repays Rs. 6,200 at the end of the first year, find the outstanding amount at the end of the second year.
Question 6. The compound interest, calculated yearly, on a certain sum of money for the second year is Rs. 1320 and for the third year is Rs. 1452. Calculate the rate of interest and the original sum of money.
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