What Does 10 Percent Per Annum Mean Class 8 Maths CBSE

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AnswerQuestion Answers for Class 12Class 12 BiologyClass 12 ChemistryClass 12 EnglishClass 12 MathsClass 12 PhysicsClass 12 Social ScienceClass 12 Business StudiesClass 12 EconomicsQuestion Answers for Class 11Class 11 EconomicsClass 11 Computer ScienceClass 11 BiologyClass 11 ChemistryClass 11 EnglishClass 11 MathsClass 11 PhysicsClass 11 Social ScienceClass 11 AccountancyClass 11 Business StudiesQuestion Answers for Class 10Class 10 ScienceClass 10 EnglishClass 10 MathsClass 10 Social ScienceClass 10 General KnowledgeQuestion Answers for Class 9Class 9 General KnowledgeClass 9 ScienceClass 9 EnglishClass 9 MathsClass 9 Social ScienceQuestion Answers for Class 8Class 8 ScienceClass 8 EnglishClass 8 MathsClass 8 Social ScienceQuestion Answers for Class 7Class 7 ScienceClass 7 EnglishClass 7 MathsClass 7 Social ScienceQuestion Answers for Class 6Class 6 ScienceClass 6 EnglishClass 6 MathsClass 6 Social ScienceQuestion Answers for Class 5Class 5 ScienceClass 5 EnglishClass 5 MathsClass 5 Social ScienceQuestion Answers for Class 4Class 4 ScienceClass 4 EnglishClass 4 MathsWhat does $10$ percent per annum mean? AnswerVerified510.3k+ viewsHint: The given problem requires us to have a strong grip over the basic and core concepts of interest calculation over a principal amount. The interest is calculated as a percent of the bank balance. This interest may be calculated after a specific period of time. If the interest is calculated yearly, then the rate of interest is expressed as percent per annum. Complete step-by-step answer:In the given problem, we have to explain the meaning of $10$ percent per annum.We know that per annum is an accounting term that is often used when describing the rate of interest over a loan or an investment made. The rate of interest is the percentage of return offered over a principal amount. Rate of interest can be expressed per annum, per quarter or per half year. So, per annum is a way of expressing the rate of interest over a principal amount. In other words, per annum means that interest will be charged or calculated yearly or annually. So, $10$ percent per annum means that $10$ percent interest will be charged yearly or annually over a principal amount or a loan. Note: If the rate of interest is $10$ percent per annum, then the interest calculated will be $10$ percent of the principal amount. $10$ Percent of the principal amount is calculated by simply multiplying $10$ percent with the principal. For example: We take a loan of rupees $1000$ at $10$ percent per annum, then the interest calculated over the amount after one year will be rupees $100$ as $10$ percent of $1000$ is $100$. Recently Updated PagesMaster Class 8 Social Science: Engaging Questions & Answers for SuccessMaster Class 8 English: Engaging Questions & Answers for SuccessClass 8 Question and Answer - Your Ultimate Solutions GuideMaster Class 8 Maths: Engaging Questions & Answers for SuccessMaster Class 8 Science: Engaging Questions & Answers for SuccessMaster Class 9 General Knowledge: Engaging Questions & Answers for SuccessMaster Class 8 Social Science: Engaging Questions & Answers for SuccessMaster Class 8 English: Engaging Questions & Answers for SuccessClass 8 Question and Answer - Your Ultimate Solutions GuideMaster Class 8 Maths: Engaging Questions & Answers for SuccessMaster Class 8 Science: Engaging Questions & Answers for SuccessMaster Class 9 General Knowledge: Engaging Questions & Answers for Success

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