Practice the questions given in the worksheet on difference of compound interest and simple interest.

Compound interest for 2 years – simple interest for two years

= P{(1 + \(\frac{r}{100}\))\(^{2}\) - 1} - \(\frac{P × r × 2}{100}\)

= P × \(\frac{r}{100}\) × \(\frac{r}{100}\)

= \(\frac{(P × \frac{r}{100}) × r × 1}{100}\)

= Simple interest for 1 year on “Simple interest for 1 year”.

**1.** Find the difference
between compound interest and simple interest on $ 12,000 and in 1\(\frac{1}{2}\) years at
10% compounded yearly.

**2.** What is the difference of the compound interest and the
simple interest on $ 14,000 at the interest rate of 10% per annum for 2 years?

**3.** Find the difference between the simple interest and
compound interest on $ 12000 for 2 years at 7.5% per annum.

**4.** Find the
difference between compound interest and simple interest on $ 12,000 and in 1\(\frac{1}{2}\)
years at 10% compounded half-yearly.

**5.** A man invested $ 8,000 for 3 years at a simple interest
rate of 8% per annum. Had the invested the same sum for the same period at a
compound interest rate of 7\(\frac{1}{2}\) % per annum, how much more would he have received
after 3 years?

**6.** On what sum of money
will the difference between compound interest and simple interest be $ 840 in 2\(\frac{1}{2}\) years at 20% per annum compounded annually?

**7.** Find the difference between the simple interest and
compound interest on $ 40000 for 3 years at 8% per annum.

**8.** If the difference of the CI and the SI on a sum of money
for two years is $ 12.50 at the annual interest rate of 5%, find the sum of
money.

**9.** Find the sum of money invested, if the difference between
the compound interest and simple interest for 2 years at 9% per annum is $
12960.

**10.** If the difference of the CI and the SI on a sum of money
for 2 years is 1% of the sum of money then, find the annual rate of interest.

**11.** The compound interest
in one year on a certain sum of money at 10 % per annum compounded half-yearly
exceeds the simple interest on the same sum at the same rate and for the same
period by $ 30. Calculate the sum.

**12.** On what sum of money, will the difference between the
compound interest and simple interest for 3 years become $ 930 at 10% per
annum.

**13.** If the rate of interest is 6\(\frac{2}{3}\)% per annum and the
difference of the CI and the SI on a sum of money for 3 years is $ 46 then find
the sum of money.

Answers for the worksheet on difference of compound interest and simple interest are given below.

**Answers:**

**1.** $ 60

**2.** $ 140

**3.** $ 67.50

**4.** $ 91.50

**5.** $ 18.38

**6.** $ 10,000

**7.** $ 788.48

**8.** $ 5,000

**9.** $ 16,000

**10.** 10%

**11.** $ 12,000

**12.** $ 30,000

**13.** $ 3,375

**8th Grade Math Practice****From Worksheet on Difference of Compound Interest and Simple Interest to HOME PAGE**

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