Toby invested £7500 for 2 years in a savings account.
He was paid 4% per annum compound interest.
How much money did Toby have in his savings account at the end of 2 years?
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Toby invested £7500 for 2 years in a savings account.
He was paid 4% per annum compound interest.
How much money did Toby have in his savings account at the end of 2 years?
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Liam invests £6200 for 3 years in a savings account.
He gets 2.5% per annum compound interest.
How much money will Liam have in his savings account at the end of 3 years?
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Peter has £20 000 to invest in a savings account for 2 years.
He finds information about two savings accounts.
Peter wants to have as much money as possible in his savings account at the end of 2 years.
Which of these savings accounts should he choose?
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This notice was in a car magazine.
Most new cars lose more than half of their value in the first three years |
Paul bought a new car.
The value of the car was £15 000
In the first year, the value of the car depreciated by 23%.
After the first year, the value of the car depreciated by 18% each year.
Work out if Paul's car lost more than half of its value by the end of three years.
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Derek buys a house for £150 000
He sells the house for £154 500
Work out Derek's percentage profit.
Derek invests £154 500 for 2 years at 4% per year compound interest.
Work out the value of the investment at the end of 2 years.
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Anil wants to invest £25 000 for 3 years in a bank.
Which bank will give Anil the most interest at the end of 3 years?
You must show all your working.
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Katy invests £200 000 in a savings account for 4 years.
The account pays compound interest at a rate of 1.5 % per annum.
Calculate the total amount of interest Katy will get at the end of 4 years.
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Zhi bought a house on 1st January 2017
When she bought the house, its value was 120 000 yuan.
The value of the house increased by 1.8% per year.
Work out the value of Zhi’s house on 1st January 2020
Give your answer correct to 3 significant figures.
....................................................... yuan
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Ali and Badia each have 25000 dollars to invest.
Cyclone Bank | Tornado Bank |
Invest 25 000 dollars |
Invest 25 000 dollars |
Ali invests in the Cyclone Bank for 3 years.
Badia invests in the Tornado Bank for 3 years.
By the end of the 3 years, Ali will have received more interest than Badia.
How much more?
Show your working clearly.
Give your answer correct to the nearest dollar.
....................................................... dollars
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Hamish buys a new car for $20 000
The car depreciates in value by 19% each year.
Work out the value of the car at the end of 3 years.
Give your answer to the nearest $.
$ .....................
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The value of a house is £120 000
The value is expected to increase by 5% each year.
Work out the expected value after 4 years.
Give your answer to 2 significant figures.
You must show your working.
£..............................
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Viv wants to invest £2000 for 2 years in the same bank.
At the end of 2 years, Viv wants to have as much money as possible.
Which bank should she invest her £2000 in?
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The population of a city increased by 5.2% for the year 2014
At the beginning of 2015 the population of the city was 1 560 000
Lin assumes that the population will continue to Increase at a constant rate of 5.2% each year.
Use Lin's assumption to estimate the population of the city at the beginning of 2017
Give your answer correct to 3 significant figures.
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Katie invests £200 in a savings account for 2 years.
The account pays compound interest at an annual rate of
3.3% for the first year
1.5% for the second year
Work out the total amount of money in Katie's account at the end of 2 years.
Katie travels to work by train.
The cost of her weekly train ticket increases by 12.5% to £225
Katie's weekly pay increases by 5% to £535.50
Compare the increase in the amount of money Katie has to pay for her weekly train ticket with the increase in her weekly pay.
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Ian invested an amount of money at 3% per annum compound interest.
At the end of 2 years the value of the investment was £2652.25
Work out the amount of money Ian invested.
Noah has an amount of money to invest for five years.
Noah wants to get the most interest possible.
Which account is best?
You must show how you got your answer.
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At the beginning of 2009, Mr Veale bought a company.
The value of the company was £50 000
Each year the value of the company increased by 2%.
Calculate the value of the company at the beginning of 2017
Give your answer correct to the nearest £100
At the beginning of 2009 the value of a different company was £250 000
In 6 years the value of this company increased to £325 000
This is equivalent to an increase of each year.
Find the value of .
Give your answer correct to 2 significant figures.
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Max invests $6000 in a savings account for 3 years.
The account pays compound interest at a rate of 1.5% per year for the first 2 years.
The compound interest rate changes for the third year.
At the end of 3 years, there is a total of $6311.16 in the account.
Work out the compound interest rate for the third year.
Give your answer correct to 1 decimal place.
.....................%
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Jan invests in a savings account.
The account pays compound interest at a rate of per year.
At the end of years, there is a total of in the account.
Work out the value of
Give your answer correct to decimal places.
...............................................
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Mia wants to borrow £6000 and repay it, with interest, after two years.
She sees two offers for loans.
Mia says,
“I will pay back the same amount because the average of 1% and 5% is 3%”
Is she correct?
You must show your working.
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Mirek invests £6000 at a compound interest rate of 1.5% per year.
He wants to earn more than £1000 interest.
Work out the least time, in whole years, that this will take.
.......................years
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Here are the interest rates for two accounts.
Account A Interest: |
Account B Interest: |
|
No withdrawals until the end of three years. |
Withdrawals allowed at any time. |
Derrick has £10000 he wants to invest.
Calculate which account would give him most money if he invests his money for 3 years.
Give the difference in the interest to the nearest penny.
Account ................... by ................... p
Explain why he might not want to use Account A.
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Himari invests 200 000 yen for 3 years in a savings account paying compound interest.
The rate of interest is 1.8% for the first year and for each of the second year and the third year.
The value of the investment at the end of the third year is 209 754 yen.
Work out the value of
Give your answer correct to one decimal place.
...................................................... [3]
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Alan invests $200 at a rate of per year compound interest.
After 2 years the value of his investment is $206.46.
Show that .
[3]
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Edna invests $500 at a rate of % per year compound interest.
At the end of 6 years, the value of Edna’s investment is $559.78.
Find the value of .
................................................ [3]
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Hans invests $550 at a rate of % per year compound interest.
At the end of 10 years, the value of the investment is $638.30, correct to the nearest cent.
Find the value of
= .............................................. [3]
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