Class 8 Simple Interest

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Elfrieda Dennis
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ID : in-8-simple-interest [1] Class 8 Simple Interest For more such worksheets visit www.edugain.com Answer the questions (1 Alisha deposited an amount in bank which gives 10% simple interest.

(3 The simple interest of Rs. 6400 in 7 years at 9% per annum will be same as simple interest on Rs. 12600 at 4% per annum in how many years?

1 ID : in-8-simple-interest [1] Class 8 Simple Interest For more such worksheets visit Answer the questions (1 Alisha deposited an amount in bank which gives 10% simple interest. If she gets Rs after 5 years, find the amount deposited by her? (2 What should be the interest rate for an amount to become 4 times of itself at simple interest in 60 years? (3 The simple interest of Rs in 7 years at 9% per annum will be same as simple interest on Rs at 4% per annum in how many years? (4 A sum of money becomes 6 times of itself at simple interest in 25 years, how long would it take for same amount to become double? (5 Tina deposited Rs in bank on 17th December 1989 and withdrew on 17th April Find the interest earned by her at simple interest of 3% pa. (6 How long will it take for an amount to become 5 times of itself at 20% per annum simple interest? (7 Ria borrowed Rs from Shweta at the rate of 4% simple interest per year. She then returned the money after 3 years and 4 months. How much money did she give to Shweta in total? 2017 Edugain ( All Rights Reserved Many more such worksheets can be generated at

2 Answers ID : in-8-simple-interest [2] (1 Rs Let the principal be P. Rate, R 10% Time, T 5 years Simple interest, S.I. ( P R T P P 1P 2 According to the question, Alisha gets Rs after 5 years. Total amount Principal + S.I P + 1P P( P( 3 2 P P Step 4 Therefore, the amount deposited by Alisha is Rs

3 (2 5% annum ID : in-8-simple-interest [3] Let the sum be P. Sum after 60 years 4P Simple interest, S.I. 4P - P 3P Time, T 60 years Rate, R ( S.I. P T 3P P Therefore, the interest rate for the amount to become 4 times of itself at simple interest in 60 years is 5% annum.

4 (3 8 years ID : in-8-simple-interest [4] We have been asked to find the time by which the simple interest of Rs in 7 years at 9% per annum will be same as simple interest on Rs at 4% per annum. Principal, P Rs Rate, R 9% Time, T 7 years Simple interest, S.I. ( P R T Now, we have to find the time using interest rate of 4% for a principal of Rs such that interest remains same,. Let the time be T years. Principal, P Rs Rate, R 4% Simple interest, S.I S.I. Time, T ( P R Step 4 Therefore, the time required for the same simple interest will be 8 years.

5 (4 5 years ID : in-8-simple-interest [5] Let the amount of P becomes 6 times in 25 years with a simple interest of R% per year. Principal P Amount after 25 years 6P Simple interest, S.I. 6P - P 5P Time, T 25 years S.I. Rate, R ( P T 5P P P 25P % Now let the amount of P becomes double in n years with a simple interest of (500/25% per year. Principal P Amount after n years 2P Simple interest, S.I. 2P - P P Rate, R 500 % 25 Time, T ( S.I. P R P P (500/ Therefore, the sum of money takes 5 years long to becomes double.

6 (5 Rs. 20 ID : in-8-simple-interest [6] It is given that, Principal, P Rs Rate, R 3% Time, T 17th December 1989 to 17th April months 4 years years Simple interest, S.I ( P R T Therefore, the interest earned by Tina is Rs. 20. (6 20 years Lets assume principal amount of P becomes 5 times in n years. Amount after n years 5P, Simple interest 5P - P 4P Using simple interest formula, Interest Principal n(20/ 4P P n(20/ 4 n(20/ n 4 /20 n 20 years Therefore, the sum of money takes 20 years long to becomes 5 times.

7 (7 Rs ID : in-8-simple-interest [7] According to the question, Ria borrowed Rs from Shweta at the rate of 4 % simple interest per year for the 3 years and 4 months. Principal, P Rs Rate, R 4% Time, T 3 years and 4 months years years Simple interest, S.I. ( P R T Now, Total amount Principal + S.I Step 4 Therefore, the total money returned by the Ria to the Shweta is Rs

Class 8 Compound Interest

ID : in-8-compound-interest [1] Class 8 Compound Interest For more such worksheets visit www.edugain.com Answer the questions (1) Number of employees in a company increases by 30% every year. If there