METCA INSTITUTE OF TEACHER EDUCATION

CHAVARCODE
G H S AVANAVANCHERY
ACHIEVEMENT TEST
CLASS :VIII TIME : 40 min.
MARK : 25

Instructions
 Answer the questions after reading and understanding all of them
 5 minutes are given as cool off time and this time is to be spent for reading the questions
 Attempt questions according to the instructions

Choose correct Option from the following 1 to 3 questions .

1. Interest for interest is commonly called ………..

(A) Simple interest (B) Compound interest (C) No interest (D) none of these [1]

2. Ramu deposits 8000 rupees in a bank which gives compound interest every 3 months,
at annual rate 8% . Then what would be the rate of interest for first 3 months ?
(A) 4% (B) 2% (C) 1% (D) 3% [1]
3. A bank gives rupees 210 as first year interest for certain amount . The bank gives an
interest rate of 5% . Then what would be the amount ?
(A) 100 (B) 1000 (C) 200 (D) 2000 [1]
Answer the following .
4. What would be the formula for calculating the amount after n years which pays
compound interest annually ? [1]
5. Manu deposits 1000 rupees in a bank which gives 6% interest compounded half
yearly .Then what would be the amount for first 6 months ? [1]
6. The simple interest at 5% got for a certain amount after 2 years is 200 rupees .Then
find the certain amount ? [1]

7. Rahul took out a loan of 10,000 rupees from bank which charges 5% annual rate .
Then What would be the amount he get after two years ? [2]

8. Babu deposited a certain amount in a bank which pays 10% simple interest annually
.After 2 years he got 400 rupees a interest .If he deposited the same amount in another
bank giving 10% compound interest half yearly , how much amount he got after one
year ? [2]
9. A TV manufacturer decreases the price of a certain model by 8% each year . The
current price of this model is 10,000 rupees .What would be the price after 2 years ?
[2]
10. A person took out a loan of 15,000 rupees from a bank which charges interest
compounded quarterly .The annual rate of interest is 4% .How much should he pay
after 6 months ? [2]
11. See the advertisement of a financial establishment

Monthly interest for 1000 rupees is 20 rupees only

a) What is the interest for 100 rupees for one month ?

b) What is the rate of interest ? [2]

12. John deposited rupees 15,000 in a bank which gives simple interest at 10% . Joseph
deposited rupees 15,000 in a bank which gives compound interest 10 % .
Who got more ? How much more ? [3]

13. Look at the table .

R K Bank S B Bank
12 % interest 10% Interest
Compounded Quarterly Compounded Half yearly

P = 5,000 rupees P = 5000 rupees

For six months For 18 months

a) What would be the interest for first six months in S B bank ? [1]
b) Evaluate the amount got from R K bank after six months ? [2]
c) Evaluate the amount got from S B bank After 18 months ? [3]