Comparing Quantities Class 8 Formulas
Comparing quantities class 8 formulas are fundamental to understanding the theory of comparing mathematical quantities and solving numerical problems based on them. For students who find the concept of comparing quantities difficult, it is important to gain complete knowledge of all basic concepts and formulas. This article provides a list of all comparing quantities class 8 formulas in brief. It also covers solved examples and other details that will benefit students in handling everyday problems.
List of Comparing Quantities Class 8 Formulas
Students will get a better understanding of comparing Quantities Class 8 Formulas by referring to the list provided below:
- Discount = Marked Price – Sale Price
- Discount percentage = ( Discount/ Marked Price ) x 100
- Overhead expenses are those additional expenses that are made after buying an article and are included in the cost price.
- Cost Price = Buying price + Overhead expenses
- Sales tax = Tax percentage of Bill Amount
- Simple Interest = ( Principal x Rate x Time )/100
- Compound Interest Formula = Amount - Principal
- Amount = Principal ( 1 + Rate/100)n
Applications of Comparing Quantities Class 8 Formulas
In our everyday life, we come across terms like discount, profit, loss, interest. Let us see how comparing quantities class 8 formulas play an important role in real life.
- Understanding the shopping transactions is an important skill to have. The profit, loss and discount formulas of comparing quantities are extremely helpful in understanding the same.
- The time value of money is the essence of modern financial systems and comparing quantities class 8 formulas help in the evaluation of the amount of money over a period of time-based on different parameters.
Tips to Memorize Comparing Quantities Class 8 Formulas
Comparing quantities class 8 formulas can be a bit confusing to remember if the terms associated with them are not clear to the students. Hence, below are some of the tips that can help students memorize these formulas with much ease:
- Comparing quantities class 8 formulas has terms like cost price, market price, principal, amount. The students must make sure to understand the meaning of these terms first before moving ahead to memorize the formulas. They can get help from teachers or their friends to get clarity on the same.
- Once they are clear with the terms, they can try creating a story around the formula, or weave the initials of the formula into some word of their choice so as to quickly memorize them.
- Students can put the formula images as wallpaper on their gadgets which will enable them to do a quick revision whenever they use their mobile or laptop.
- Practice solved examples given in the textbook. This will give maximum coverage of the usage of formulas in different contexts.
Comparing Quantities Class 8 Formulas Examples
Example 1: Arvind opened a cracker shop and bought crackers in wholesale worth 1000 INR at a 10% discount. Arvind then sold the crackers in his shop and paid 5% tax on the bill amount. What is the net profit of Arvind from his cracker shop?
Solution: Total cost price for Arvind = 1000 - ( 1000* 10/100)
= 1000 - 100
= 900
Net selling price for Arvind = 1000 - (1000 * 5/100)
= 1000 - 50
= 950
Net Profit for Arvind = Selling Price - Cost Price
= 950 -900 = 50 INR.
Example 2: Kangna took a loan of 40,000 INR at a simple interest rate of 10% per annum and spent 20,000 INR. The remaining 20,000 INR Kangana loaned it to her best friend Dimple at 5 % compound interest. After five years, what is the net asset and liability of Kangana?
Solution: Total amount to be paid by Kangana = Principal + Simple Interest
= 40000 + (40000 * 10 * 5)/100
= 40000 + 20000
= 60000
Thus, 60000 INR is the liability to be paid to the bank by Kangana
Total amount received by Kangana = Principal + Compound Interest
= 20000 ( 1+ 5/20)5
= 20000 ( 1+.25)5
= 20000 * 3.05
= 61000 INR is the asset to be received from Dimple.
Students can download the printable Maths Formulas Class 8sheet from below.
FAQs On Comparing Quantities Class 8 Formulas
What are the Important Formulas Covered Under Comparing Quantities Class 8 Formulas?
The important formulas covered under comparing quantities class 8 formulas are as below:
- Discount = Marked Price – Sale Price
- Discount percentage = ( Discount/ Marked Price ) x 100
- Overhead expenses are those additional expenses that are made after buying an article and are included in the cost price.
- Cost Price = Buying price + Overhead expenses
- Sales tax = Tax percentage of Bill Amount
- Simple Interest = ( Principal x Rate x Time )/100
- Compound Interest Formula = Amount - Principal
- Amount = Principal ( 1 + Rate/100)n
What are the Basic Formulas in Comparing Quantities Class 8 Formulas?
The basic formulas in comparing quantities class 8 formulas will help students understand the basics of transactions and the calculation of interest on money over a period of time. Also, these formulas will help explain the relationship between the selling price, marked price, cost price, discount, interest, amount, etc.
What are the Important Concepts Covered in Comparing Quantities Class 8 Formulas?
The important concepts covered in comparing quantities class 8 formulas are how to find the discount and sales tax, calculating the value of money over a particular period of time using formulas of simple interest and compound interest.
How Many Formulas are There in Comparing Quantities Class 8 Formulas?
There are around 8 formulas in comparing quantities class 8 formulas that can be remembered easily if the students follow the tips mentioned in this article on a consistent basis. The main formulas include calculating discounts, sales tax, simple interest and compound interest.
How to Memorize Comparing Quantities Class 8 Formulas?
Due to the introduction of a lot of new terms like selling price, marked price, interest, etc., the students often get confused while memorizing the comparing quantities class 8 formulas. This article will help them with the tips to overcome this hurdle.
- Before memorizing the formulas, students must ensure that they have understood the meaning of all the terms involved in the formulas. They can seek help from professors or friends to gain a better understanding of concepts.
- Once students understand the logical details, they can revise the formulas through formula sheets or explanatory video resources. Also, the students can set formula images as wallpaper on their gadgets.
- Students must ensure to practice all of the textbook's solved examples. This will provide the most comprehensive coverage on formula usage in various contexts.