CBSE /Class 8
Maths MCQ Based On Comparing quantities compound interest
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CBSE Class 8 Maths Comparing quantities compound interest
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Simple interest = \\(\\frac{P \\times R \\times T}{100}\\)
Compound Interest
Recall formula for compound interest
First find the amount Compound Interest= Amount - Principle
Find simple interest for one year and subtract it from the principal.
Use the formula of compound interest for the given principal amount, time and rate of interest provided by the bank.
Amount
Simple interest = \\(\\frac{P \\times R \\times T}{100}\\)
Find the amount for the whole part i.e; 1 year in this case, then use this as principal to get simple interest for ¼ year. Add both the interest to find given CI.
Simple interset \\( = \\frac{P*R*T}{100}\\) Where, P=principal ,R= rate of interest per annum , T= time in years
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