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RD Sharma Class 8 Maths Solutions Chapter 14 - Compound Interest

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Last updated date: 23rd Apr 2024
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RD Sharma Solutions for Class 8 Maths - Compound Interest - Free PDF Download

Compound interest is the addition of interest, or, in other words, interest on interest, to the principal amount of a loan or deposit. Instead of paying it back, it is the product of reinvesting interest, so the interest is then paid on the principal sum plus already accrued interest in the next cycle. Compound interest deals with the money-related issue so it is important for Class 8 students to understand the concepts clearly. RD Sharma Class 8 Maths Solutions Chapter 14 provides exclusive content about Compound interest and solutions to important questions.

RD Sharma Solutions For Class 8 Maths Chapter Compound Interest is based on the NCERT curriculum and CBSE syllabus. These solutions will help students to prepare for their board exams as well as apply these concepts in their real-life situations too. Students can download Compound Interest Class 8 RD Sharma Solutions free PDF available on the Vedantu platform. Vedantu is a platform that provides free NCERT Solution and other study materials for students. Science Students who are looking for NCERT Solutions for Class 8 Science will also find the Solutions curated by our Master Teachers really Helpful. Download Class 8 Maths NCERT Solutions to help you to revise the complete syllabus and score more marks in your examinations.

Class 8 RD Sharma Textbook Solutions Chapter 14 - Compound Interest

You can download RD Sharma Class 8 Maths solutions for Chapter 14 Compound Interest from the website of Vedantu.

Vedantu has provided step-by-step solutions for all exercise questions given in the pdf of Class 8 RD Sharma Chapter 14 - Compound Interest. All the Exercise questions with solutions in Chapter 14 - Compound Interest are given below:

Exercise 14.1

Exercise 14.2

Exercise 14.3

Exercise 14.4

Exercise 14.5

The Compound Interest Class 8 RD Sharma Solutions are developed by experts who have a lot of experience in teaching the subject. These solutions are carefully designed in a step-by-step manner with the utmost care to make students understand the concepts easily and ace their exams.

Here, let us look into a few of the important topics from the Compound Interest chapter which are frequently asked in the exams.

  • Computation of compound interest annually.

  • Computation of compound interest half-yearly.

  • Computation of compound interest quarterly.

  • Computation of compound interest by using Formulae.

  • Inverse problems on compound interest.

  • Population growth problems.

  • Depreciation related problems.

 

Exams Preparation Tips using RD Sharma Solutions for Class 8 Maths Chapter Compound Interest

These tips will come in handy for students while attempting any questions from the Compound interest chapter.

  • Recall the concepts of ratios and percentages before attempting the questions from Compound interest.

  • Understand the concepts of simple interest, profit and loss and discounts clearly and then start with the compound interest concept.

  • Remember the basic formulas of simple interest and compound interest to solve the questions in quick time.


Conclusion

The Compound Interest Class 8 RD Sharma Solutions prepared by Vedantu experts will be really helpful for students when preparing for their board exams. The RD Sharma solutions also have a lot of practice questions for students to prepare for their exams with more confidence. The solutions are designed in such a way that students will get a unique and fun way of learning when referring to the RD Sharma Class 8 solutions on Compound interest.

FAQs on RD Sharma Class 8 Maths Solutions Chapter 14 - Compound Interest

1. What is Compound Interest?

Compound interest refers to the process in which the interest associated with a savings account, loan, or investment rises over time exponentially instead of linearly. It is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods. The rate at which compound interest accrues depends on the frequency of compounding, such that the higher the number of compounding periods, the greater the compound interest.

2. Why does one have to study RD Sharma solutions for Class 8 Maths chapter Compound Interest?

RD Sharma is a highly recommended book by toppers and experts to score better in the exam. Students are advised to practice all the questions given in the exercise for a better understanding. They can refer to previous year questions and other free PDFs available on Vedantu for comprehensive knowledge. Vedantu also has free material by RD Sharma and carefully made solutions to all of it. Students can access it from the website and its mobile application. They can also download it from the links below and study offline.

3. What is the formula to calculate compound interest?

The formula to calculate compound interest is CI = P[(1 + R)^nt – 1].

Here, 

CI denotes compound interest

P = principal amount

R = rate of interest

n = number of compounding years

t = time (in years)

Compound interest is an interest paid on a loan or certain amount of money. It depends on both the principal and interest accumulated over a certain time. This is what differentiates it from simple interest. If the interest differs every year and gets increased if we stop paying every month then we can say the loan is charged with compound interest. It is used to calculate changes in population and computing growth of bacteria etc.,

4. What is the formula to calculate compound interest on a daily basis?

The formula to calculate compound interest is:

A = P(1 + r/365)^{365 * t}

A = amount

P = principal

t = time period

Compound interest is an interest charged on a certain sum of money. It can be calculated annually, quarterly and half - yearly. Compound interest is charged on the principal amount and the interest. This is the difference between simple and compound interest. Simple interest is calculated just on the principal amount. Generally banks offer loans for compound interest. If you look at the bank statement  and find the interest rate changing every year and increasing then you can understand that you are being charged with compound interest.


You can avail all the well-researched and good quality chapters, sample papers, syllabus on various topics from the website of Vedantu and its mobile application available on the play store. 

5. What is the Difference Between Simple Interest and Compound Interest?

Simple interest is based on a principal or initial amount. Compound interest shall be measured on the principal sum as well as on the accrued interest of the intervening periods and can therefore be known as interest on interest.