QUESTION BANK CHETAN SIR’S GROUP TUITIONS

for ICSE MATHEMATICS

CHAPTER COMPOUND INTEREST

1. A man borrows ` 8000 at 10% compound interest. If he repays ` 1500 at the end of first year and ` 3200
at the end of second year, find the amount of loan outstanding at the beginning of third year.

2. A man borrows ` 8500 at 10% compound interest. If he repays ` 2700 at the end of each year, find the
amount of loan outstanding at the beginning of third year.

3. A man borrows ` 8000 at 10% compound interest payable every six months. He repays ` 2500 at the end
of every six months. Calculate the third payment he has to make at the end of 18 months in order to clear
entire loan.

4. Rachana borrows ` 12,000 at 10% per annum interest compounded half – yearly. She repays ` 4000 at the
end of every six months. Calculate the third payment she has to make to clear the loan.

TYPE 2 : SUMS BASED ON DIRECT FORMULA APPLICATION

5. Find the amount and C.I. on ` 10,000 at 8% p.a. in 2 years.

6. Find the amount and C.I. on ` 10,000 at 8% p.a. and in 1 year, interest being compounded half yearly.

7. (a) Find the amount and C.I. on ` 8,000 for 1 ½ years at 10% per annum compounded yearly.
(b) Find the amount and C.I. on ` 8000 for 1 ½ years at 10% p.a. compounded half yearly.

8. Nikita invests ` 6000 for 2 years at a certain rate compounded annually. At the end of first year it amounts
to ` 6720. Calculate:
(i) The rate of interest. (ii) The amount at the end of second year.

9. Ramesh lends ` 15,000 for 2 years at a certain rate of C.I. If after 2 years, it amounts to ` 16,224. Find the
rate of interest.

10. What sum of money will amount to ` 5445 in 2 years at 10% p.a. compound interest?

11. Find the amount when ` 10,000 is invested for 2 ½ years at 10% interest compounded yearly.

12. Manish borrowed ` 20,000 for 4 years under the following conditions: 10% simple interest for the first 2 ½
years and 10% C.I. for the remaining one and half years on the amount due after 2 ½ years, the interest
being compounded half yearly. Find the total amount paid at the end of 4 years.

TYPE 3 : WHEN RATES FOR SUCCESSIVE YEARS ARE DIFFERENT

13. Calculate the compound interest on ` 16,000 in 3 years when the rates of interest for successive years are
10%, 12% and 15% respectively.

14. Find the sum that will amount to ` 4928 in 2 years at compound interest if the rates for successive years are
10% and 12% respectively.
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 QUESTION BANK CHETAN SIR’S GROUP TUITIONS
for ICSE MATHEMATICS
ICSE CLASS IX 9322136699

TYPE 4 : TO FIND TIME

15. In what period of time will ` 12,000 yield ` 3972 as compound interest at 10%, if compounded on yearly
basis.

16. In how many years will ` 7000 amount to ` 9317 at 10% p.a. compound interest?

TYPE 5 (a) : WHEN C.I OR AMOUNT FOR ANY YEAR IS GIVEN AND WE
HAVE TO FIND C.I/AMOUNT FOR THE NEXT YEAR OR
PREVIOUS YEAR.

17. The compound interest calculated yearly at 10% on a certain sum of money amounts to ` 665.50 in fifth
year. Calculate:
(i) C.I. for the sixth year for the same rate and on the same sum.
(ii) C.I. for the fourth year on the same sum at the same rate.

TYPE 5 (b) : WHEN C.I OR AMOUNTS FOR CONSECUTIVE YEARS ARE

18. A sum of money is invested at compound interest payable annually. The amounts of interest of 2 consecutive
years are ` 225 and ` 240. Find the rate of interest?

19. A certain sum of money placed at compound interest amounts to ` 6272 in 2 years and ` 7024.64 in 3 years.
Find the rate of interest and the sum of money.

20. The simple interest on a certain sum of money computes to ` 600 in 3 years and compound interest on the
same sum at the same rate for 2 years computes to ` 410. Find the rate percent.

21. If the amounts for 2 consecutive years on a sum of money are in the ratio 20 : 21 ; find :
(i) The rate of interest (ii) The compound interest on ` 48,000 for 3 years at this rate.

22. The simple interest on a certain sum of money computes to ` 256 in 2 years and compound interest on the
same sum at the same rate for 2 years computes to ` 276.48. Find the rate percent and the sum.

TYPE 6 : WHEN DIFFERENCE IN C.I FOR NON CONSECUTIVE YEARS ARE

23. On a certain sum of money invested at the rate of 5% p.a compounded annually, the difference between the
interest of the first year and the interest of the third year is ` 61.50, find the sum.

24. Find the sum invested at 10% compounded annually on which the interest for the third year exceeds the
interest for the first year by ` 252.

TYPE 7 : SUMS BASED ON DIFFERENCE OF C.I. AND S.I.

25. Calculate the difference between C.I. and S.I. on ` 4000 at 8% p.a. in 2 years.

26. Ashok borrowed ` 16,000 at 10% simple interest. He immediately invested his money at 10% compounded
half yearly. Calculate Ashok’s gain in 18 months.

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 QUESTION BANK CHETAN SIR’S GROUP TUITIONS
for ICSE MATHEMATICS
ICSE CLASS IX 9322136699
27. Govind borrows 18,000 at 10% S.I. He immediately invests the money borrowed at 10% C.I. compounded
half yearly? How much money does Govind gain in 1 year?

28. Find the difference between simple interest and compound interest on ` 12,000 and in 1 ½ years at 10%
compounded yearly?

29. On what sum of money will the difference between compound interest compounded annually and simple
interest is ` 840 in 2 ½ years at 20% per annum compounded annually?

TYPE 8 : DIVISION OF AN AMOUNT IN 2 PARTS

30. Divide ` 36,465 between A and B so that when their shares are lent out at 10% C.I. per year, the amount
that A receives in 7 years is same as what B receives in 5 years.

31. Divide ` 28,730 between A and B so that when their shares are lent out at 10% C.I. per year, the amount
that A receives in 3 years is same as what B receives in 5 years.

TYPE 9 : GROWTH AND DEPRECIATION

32. The present population of a town is 48,000. It is increasing at the rate of 5% every year. What will be the
increase in the population in the next 3 years.

33. The present population of a village is 5408. It is increasing at the rate of 4% every year. What was its
population 2 years ago.

34. The value of a machine purchased two years ago depreciates at an annual rate of 10%. If its present value
is ` 97,200. find:
(i) Its value after 3 years (ii) its value when it was purchased.

35. The population of a village 2 years ago was 6250. Due to migration to cities, it decreases at the rate of 8%
every year. Find the decrease in population in the last 2 years.

36. The value of a car depreciates by 12.5% every year. By what percent will the value of the car decrease after
3 years.

37. The population of a town decreased by 12% during 1998 and then increased by 8% during 1999. Find the
population of the town, at the beginning of 1998 if at the end of 1999 its population was 2,85,120.

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