ICSE 9 Maths
Compound Interest (Using Formula)
1.Growth
The word growth can be used in several ways ,such as :
(i)the growth of industries in the country
(ii)the rapid growth of plants, inflation, etc….
Rate of growth = Annual change (increase) as percent
When the growth of industries (or production in any particular industry) is taken into consideration.
The formula 
can be used as:
1.Production after n years = Initial production × 
2.Present production = Production n years ago ×
In each case, rate of growth in production is r%.
In a similar manner, the formula A=P can be used for the growth of plants, growth of inflation etc ….
2.Depreciation
Rate of depreciation = Annual change as percent.
If the cost of a machine depreciates (decreases) by r % every year, then its value after n years can be obtained by the formula:
Value after n years = Present value ×
Also, the present value of the machine = Its value n years ago ×
3.Population problems:
When the population of a town, city, village, etc … increases at a certain rate per year, then the formula A=P can be used as:
(i)Population after n years = Present population ×
(ii)Present population = Population n years ago ×
i.e., for the population at two different times, the former population will come (in the formula) at the place of principal(P) and the later population will come at the place of amount (A).
ICSE 9 Maths Compound Interest (Using Formula) NCERT Chapter 3 Free Notes for Best Revision
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