ICSE Class 8 Mathematics Chapter 9 Selina Concise Solutions - Free PDF Download
FAQs on Concise Mathematics Class 8 ICSE Solutions for Chapter 9 - Simple and Compound Interest
1. How to prepare ICSE Class 8, Chapter 9: Simple and Compound Interest?
Here is a list for easy preparation:
Take a Pen and Rough book/paper.
Read the chapter and understand the meaning of the basic terms provided in the chapter like Rate, Time, Principle etc.
After you learn the meaning of these terms, revise all the formulas for Chapter 9: Simple and Compound Interest that are provided in your Selina Concise Mathematics Textbook.
Apply the formula and try to solve simple examples first and then move to the complex questions. Refer to Vedantu.com if you get stuck at any question.
Practice as many questions as you can, this will increase your efficiency in solving the Simple and Compound interest questions.
If you follow these steps with the given pace then you can ace chapter 9 with ease.
2. What is the difference between Simple Interest and Compound Interest as taught in chapter 9 of ICSE class 8 Maths?
Simple Interest :
Simple interest is the interest that is always charged on the principal amount.
Example - Suppose Ram borrows 5000 Rupees at the interest rate of 10% per annum, then Ram has to pay 500 rupees every year.
Compound Interest :
Compound Interest is the interest that is charged on the (principal amount + the accumulated interest)
Example - Suppose Ram borrows 5000 rupees (compound interest) at the interest rate of 10% per annum then the first-year Ram will pay 500 Rupees as interest but in the next year, Ram has to pay 10% on the amount( 5000 + 500) accumulated interest, hence Ram will pay 550 in the second year.
With these examples, you will understand the clear difference between simple interest and compound interest.
3. What are the formulas for S.I and C.I as taught in chapter 9 of class 8 ICSE Maths?
The formulas for S.I and C.I as taught in chapter 9 of class 8 ICSE Maths are:
The formula for S.I:
P×R×T / 100 = Simple Interest
(P = Original Amount Borrowed )
(R = Rate of interest charged)
(T = period for which the loan is given to the borrower )
The formula for C.I:
A = P( 1 + r/100)n
(A = Amount)
(P = Principal Amount)
(r = Rate of interest)
(n = Number of years)
If students learn these formulas, then they can easily solve any question related to chapter 9: Simple and Compound Interest.
4. What are some preferred study materials for ICSE Class 8 Mathematics?
The highly recommended Study Material is the Concise Mathematics Textbook by Selina Publishers which is available in Vedantu.
That is because this book contains different types of examples & exercises that help the students to understand the concept of the chapters well.
Therefore, this textbook is the most preferred textbook for ICSE Class 8 Mathematics.
5. According to chapter 9 of class 8 ICSE Maths, what is the most commonly used type of interest ?
Nowadays, Compound Interest is the most commonly used interest in Indian Banking System, and Economics.
Simple interest gives a significant rise in an amount but Compound Interest will give exponential rise to the amount.
Hence, Compound Interest is used most frequently.