Compound Interest is a very important chapter in **ICSE** **Class 8 maths, ICSE Class 9 Maths** and **CBSE Class 8 Maths**. Take this Maths Practice Test On Compound Interest here. This online aptitude test on Compound Interest will increase the confidence in students and students will never hesitate to do the **sums on Compound Interest**. Online Quiz on Compound Interest Maths is provided by The Brainbox Tutorials. The quiz has multiple choice questions on Compound Interest Maths. **S**tudents will be benefitted by this online Practice test on Compound Interest.

**Compound Interest Definition and Examples**

Financial institutions, insurance companies, post offices, banks and other companies which lend money and accept deposits follow an entirely different procedure for calculating interest.

Here, the borrower and lender fix a certain unit of time to work out the interest. The principal changes after each fixed unit of time because the interest accrued during the fixed unit of time is added to the principal and the amount obtained is considered as the principal for the next unt of time.

The interest for the next unit of time is computed on this new principal and so on.

After a certain specific period the difference between the amount and the money borrowed is calculated and this difference is called the compound interest(CI). The fixed unit of time is called the conversion period.

## Formula For Compound Interest

### When CI is Calulted annually,

### When the rates are different for different years (successive rates of interest)

### When Compound Interest is calculated semi-annually

### Application of Compound Interest Formula

**Growth**

**Depreciation**

## Practice Test On Compound Interest Maths

You can go through the tutorial of this chapter in video form to understand the concept clearly. Here is the link to the video tutorial.

Video tutorial on:

### Rules For The Quiz:

- This quiz has 10 multiple-choice questions.
- Each sum has 2 marks.
- So the maximum marks of this test are 20.
- There is no time limit.
- You should be ready with a pen and copy in your hand to solve the sums.
- keep your Maths book away from you. This is the test of your memory. So do not take the help of the Maths book.
- The correct answer and explanation are provided at the end of this quiz.

Happy learning an always say yes to maths.

__ICSE Related links__

**Chapter-wise Quiz/MCQ/Test:**

**ICSE Chapter wise Quiz For Class 6****ICSE Chapter wise Quiz For Class 7****ICSE Chapter wise Quiz For Class 8****ICSE Chapter wise Quiz For Class 9****ICSE Chapter wise Quiz For Class 10**

**Sample Papers:**

**Board Papers:**

__CBSE Related links__

__CBSE Related links__

**Chapter-wise Quiz/MCQ/Test:**

**CBSE Chapter wise Quiz For Class 6****CBSE Chapter wise Quiz For Class 7****CBSE Chapter wise Quiz For Class 8****CBSE Chapter wise Quiz For Class 9****CBSE Chapter wise Quiz For Class 10**

## Sample Papers:

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I got full 20 marks and I am very happy now

18 marks