ICSE /Class 9
Maths MCQ Based On Banking compound interest
Our free online Maths test quiz for Class 9, ICSE will assist you to improve your Maths skills on every concept in a fun interactive way.
ICSE Class 9 Maths Banking compound interest
Calculate the rate, since the interest is compounded half-yearly then apply the formula of compound interest
Calculate the amount for first year and then take the amount as principal for the second year and find the final amount.
Find interest after each year and then subtract the repaid amount from the total amount and then continue the process to find the amount at the beginning of the third year.
When interest is calculated half yearly, the rate becomes half and time gets doubled.
Calculate the new rate since the interest is compounded half-yearly, then use the formula for compound interest to calculate the interest.
Find amount separately for 6 months and 12 months. Find the difference and put it equal to 189.
Use the formula for simple interest.
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