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TOPIC 9
Simple Interest & Compound Interest
1. Find the simple interest on $200 for 4 years at 2% per year.
Answer $
O)
{Nov/2012/P 11/03(b)]
2. Find the simple interest on $200 for 4 years at 0.6% per year.
Answer $ su . fy
[Now/2013/P11/Q3(b)]
3. Sara invests $240 in an account that pays 3% per year simple interest.
She leaves the money in the account for 5 years
Work oiit how much money Sara has at the end of 5 years.
Answer § . 2]
[June/2015/P12/019(b)}
4. Find the simple interest on $450 for 5 years at 4% per annum,
Answer $
o)
{Now/2015/P 12/92(b)] OL Mathematics P1 Topic 9 Simple Interest & Compound Interest © Page 2
5. Find the simple interest on $400 for 3 years at 2% per annum.
Answer $ v= CH
[Nov/2016/P 11/04(b)]
6. Anna invests $150 in an account that pays simple interest.
She leaves the money in the account for 4 years.
At the end of 4 years she has $162,
Work out the rate of simple interest paid per year.
Answer % [2]
[June/2017/P 12/013(6)]
7. Find the simple interest on $200 for 3 years at 4% per year.
Answer $ ....
fl]
{Novw/2017/P11/Q3(a)}
8. Daniel invests $1200 in a savings account.
The account pays simple interest at a rate of 2% per year.
Calculate the amount of money in the account after 6 years.
= [2]
[une/2019/P 12/06(6)]
9. Meera invests some money at a rate of 2% per year simple interest.
How many years does it take for her investment to double in value?
0)
[Now/2019/P 11/Q10(b)] OL Mathematics P1 Topic 9 - ANSWers © Page 1
ANSWERS
Topic 9 - Simple Interest & Compound Interest
200x 2x.
100
Simple interest = =S16
2, Simple interest = 200%0.6%4 _ ¢.4 89
100
240%3%5
100
+, Sara has = $240 + $36 = $276
3. Simple interest =
450x4x5
100
90
4. Simple interest =
400x 2x3
Too 324
5. Simple interest =
6. Simple interest =$162-$150=$12
150x Rx4
212s G
R=2
200%4%3 _ 54
7. Simple interest = 7
PRT _ 1200x2x6
= =8144
100 10S
Total money = $1200 + $144=$1344
3 1
9. For investment to double in value, the simple
interest and investment should be same
