ML Aggarwal CBSE Solutions Class 8 Math Seventh Chapter Compound Interest Exercise 7.3

ML Aggarwal CBSE Solutions Class 8 Math 7th Chapter Compound Interest Exercise 7.3

(6) V0 = Present value = 16000

V = Value after 2 years = 14440

N = 2 years

R =?

V = V0 [1- r/100]r

Or, 14440 = 16000 (1 – r/100)2

Or, 14440/16000 = (1 – r/100)2

Or, (38/40)2 = (1- r/100)2

Or, 38/40 = 1 – r/100

Or, r/100 = 1 – 38/40 = 40–38/40 = 2/40

Or, r = 2X10/4 = 5% (Ans)

(7) V0 = 80000

V = 92610

N = 3 years

V = V0 [1+ r/100]n

Or, 92610 = 80000 [1+ r/100]3

Or, 9261/8000 = (1+ r/100)3

Or, (21/20)3 = (1+ r/100)3

Or, 21/20 = 1+ r/100

Or, 21/20 – 1 = r/100

Or, 21-20/20 = r/100

Or, 1 X 5 = r

Or, r = 5% (Ans)


Updated: May 29, 2021 — 5:49 pm

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