TWGHs Lee Ching Dea Memorial College S3 Mathematics (Worksheet 1.

0G)

Name ： _____________________ Class：_____________( ) Date：___________

1. Mandy deposited some money in a bank at an interest rate of 5% p.a. The interest was
compounded half-yearly and she received an amount of $33 000 after 2 years. Find the
principal. (Give the answer correct to the nearest integer.)

Let $P be the principal.

2. Nancy deposited some money in a bank at an interest rate of 6% p.a. The interest was
compounded quarterly and she received a compound interest of $3245.93 after 21 months. Find
the principal. (Give the answer correct to the nearest integer.)
3. Allen wants to deposit $42 000 in bank A or bank B for 3 years. At bank A, the interest rate is
4.8% p.a. compounded half-yearly. At bank B, the interest rate is 2.4% p.a. compounded
quarterly. Which bank should Allen deposit the money in order to earn more?

4. Mr. Lee deposited some money in a bank at an interest rate of 3.8% p.a. compounded
half-yearly. If he received an amount of $ 21563.87 after 2 years, find the principal. Correct
the answer to the nearest integer.