Class 8 Periodic Test Question Paper chapter Compounds interest

Here's a sample question paper for a periodic test on the chapter "Compound Interest" for Class 8.

Class 8 Periodic Test Question Paper

Subject: Mathematics

Chapter: Compound Interest

Time: 45 minutes

Maximum Marks: 25

Section A - Objective Type Questions (1 Mark Each)

1. Compound interest is calculated on:

a) Only the principal amount

b) Only the interest earned

c) Principal and previously earned interest

d) Principal, interest, and time

2. The formula for calculating compound interest is:

a) A = P(1 + r/n)^(nt)

b) A = P(1 + rt)

c) A = P + rt

d) A = P(1 + r)^t

3. If the interest is compounded annually, the value of 'n' in the compound interest formula is:

a) 1

b) 2

c) 4

d) 12

Section B - Short Answer Type Questions (2 Marks Each)

4. Calculate the compound interest on Rs. 5000 at 8% per annum for 2 years, compounded annually.

Hint: Use the formula A = P(1 + r/n)^(nt) and subtract the principal amount.

5. Find the amount when Rs. 8000 is invested at 10% per annum for 3 years, compounded quarterly.

Hint: Again, use the formula A = P(1 + r/n)^(nt) and substitute the given values.

Section C - Long Answer Type Questions (3 Marks Each)

6. Calculate the compound interest on Rs. 12000 at 6% per annum for 2 years, compounded semi-annually.

Hint: Divide the annual interest rate by the compounding frequency and use the formula.

7. A sum of Rs. 2000 is invested at 12.5% per annum for 3 years, compounded annually. Find the amount after 3 years.

Hint: Use the formula A = P(1 + r/n)^(nt) to find the amount.

Section D - Application-Based Question (5 Marks)

8. Mrs. Kapoor borrowed Rs. 5000 from a bank at 9% per annum for 2 years, compounded annually. Calculate the amount she has to repay.

Hint: Apply the compound interest formula A = P(1 + r/n)^(nt) and calculate the final amount.

Hints:

1. Answer: c) Principal and previously earned interest.

2. Answer: a) A = P(1 + r/n)^(nt)

3. Answer: a) 1

4. Compound Interest Formula: A = P(1 + r/n)^(nt), where P is the principal amount, r is the rate of interest, n is the number of times interest is compounded per year, and t is the time in years.

5. Use the formula A = P(1 + r/n)^(nt), where P = 8000, r = 0.10, n = 4 (quarterly compounding), and t = 3 years.

6. Use the formula A = P(1 + r/n)^(nt), where P = 12000, r = 0.06, n = 2 (semi-annually), and t = 2 years.

7. Use the formula A = P(1 + r/n)^(nt), where P = 2000, r = 0.125, n = 1 (annually), and t = 3 years.

8. Use the formula A = P(1 + r/n)^(nt), where P = 5000, r = 0.09, n = 1 (annually), and t = 2 years.

Feel free to adapt the questions and hints as needed to fit your classroom requirements.

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Here's an interactive quiz on the topic of compound interest. Choose the correct answer for each question:

Quiz: Compound Interest

1. What does 'principal' refer to in compound interest?

a) The total amount

b) The interest earned

c) The initial amount

d) The rate of interest

2. Which formula is used to calculate compound interest annually?

a) A = P + rt

b) A = P(1 + r/n)^(nt)

c) A = P(1 + rt)

d) A = P(1 + r)^t

3. If the interest is compounded quarterly, how many times is 'n'?

a) 1

b) 2

c) 4

d) 12

4. Calculate the compound interest on Rs. 5000 at 8% per annum for 2 years, compounded annually.

a) Rs. 800

b) Rs. 820

c) Rs. 840

d) Rs. 860

5. What is the total amount when Rs. 8000 is invested at 10% per annum for 3 years, compounded semi-annually?

a) Rs. 11076

b) Rs. 11348

c) Rs. 11572

d) Rs. 11824

6. The compound interest formula is:

a) A = P(1 + r)^t

b) A = P(1 + r/n)^(nt)

c) A = P + rt

d) A = P * r * t

7. Calculate the compound interest on Rs. 12000 at 6% per annum for 2 years, compounded quarterly.

a) Rs. 1459.20

b) Rs. 1496.40

c) Rs. 1532.80

d) Rs. 1570.40

8. A sum of Rs. 2000 is invested at 12.5% per annum for 3 years, compounded annually. Find the amount after 3 years.

a) Rs. 2842.19

b) Rs. 2925.83

c) Rs. 3012.50

d) Rs. 3102.13

9. Mrs. Kapoor borrowed Rs. 5000 from a bank at 9% per annum for 2 years, compounded annually. Calculate the amount she has to repay.

a) Rs. 5882.50

b) Rs. 6050.25

c) Rs. 6223.70

d) Rs. 6402.15

**Answers:**

1. c) The initial amount

2. b) A = P(1 + r/n)^(nt)

3. c) 4

4. c) Rs. 840

5. c) Rs. 11572

6. b) A = P(1 + r/n)^(nt)

7. c) Rs. 1532.80

8. c) Rs. 3012.50

9. b) Rs. 6050.25

Feel free to share these questions with others to test their knowledge of compound interest!

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