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SRO Interest

Last updated about 5 years ago

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Fast Five

Question 1

1.

Fast 5 - Question 1

Question 2

2.

Fast five - Question 2

Question 3

3.

Fast five - Question 3

Question 4

4.

Fast 5 - Question 4

Question 5

5.

Fast 5 - Question 5

Main task - Interest Questions (You do not need to enter the £ sign, just numerical answer)

Question 6

6.

Paul leaves £4000 in the bank for two years. It earns compound interest of 5% per year. Calculate the total amount Paul has in the bank at the end of the two years.

Question 7

7.

The value of a car decreases by 5% each year. Sophie bought a car two years ago for £10000 Work out the value now.

Question 8

8.

A full water tank holds 500 litres. The tank begins to leak water and is losing 14% of its contents every hour. Find how much water is left in the tank after 8 hours.

Question 9

9.

Carrie invests £800 for 4 years at 3% interest per year. How much interest does she earn?

Question 10

10.

A car was bought for £20,000. Its value depreciates by 31% each year for the Nirst four years. What is its values at the end of the four years?

Question 11

11.

A tree is 80cm when planted. Each year the height of the tree increases by 22%. After how many complete years will the height of tree be at least 3m?

Question 12

12.

The number of polar bears in a region is decreasing by 5% per year. There are 3000 polar bears in the region in 2017. What year will be the first year with less than 1000 polar bears in the region?

Question 13

13.

Michael has started working for a company on a salary of £15000. Each year he will be given a 6% pay rise. How many years will it take for Michael’s salary to exceed £30000?

Question 14

14.

The value of a car decreases by 7.2% each year. When bought the car cost £6200. How many years will it take the car to have a value less than £1000?

Challenge

Question 15

15.

Florence invests £200 for two years at 5% compound interest, paid yearly. Liam says that the interest that Florence will receive will be £20. Is Liam right? Explain your answer with workings

Question 16

16.

The value of a motorcycle was £14000 on 1st April 2014. Every three months the value of the motorcycle decreases by 2% of its value at the start of that three months. What was the value of the motorcycle on 1st April 2016?

Question 17

17.

When a ball is dropped, it bounces and then rises. The ball rises to 90% of the height from which it is dropped. The ball is dropped from a height of 4m. Calculate the height of the rise after the first bounce.

Question 18

18.

When a ball is dropped, it bounces and then rises. The ball rises to 90% of the height from which it is dropped. The ball is dropped from a height of 4m. (a) Calculate the height of the rise after the second bounce.

Question 19

19.

When a ball is dropped, it bounces and then rises. The ball rises to 90% of the height from which it is dropped. The ball is dropped from a height of 4m. (c) For how many bounces does it rise to height greater than 1m?

Question 20

20.

The population of a country is increasing by 5% a year. How many years will it take the population of the country to double?

Question 21

21.

Raheem and Ben invest money in 2010. Raheem invests £1000 at Banks’R’us, who pay 3% interest per year. Ben invests £1400 at Bank World, who pay 1% interest per year In which year will Raheem’s investment be worth more than Ben’s?

Question 22

22.

The population of a country increases by x% each year. In 2014 the population of the country was 24,000,000. Three years later, the population was 26,996,736. Find x.

Question 23

23.

Charlotte invests £5000. The bank pays 10% interest for the first year and then y% every year after that. After three years, Charlotte has £5610.55 Calculate y.