1. £5000
is invested at 10%
per annum (year) compound interest. How much money will there be after 2
years?
а) £6050; b) £6070;
c) £6120; d) £6055.
2. Ben invests £6000 in bank at 5%
per annum compound interest. How much money will he have in the bank after 2
years?
а) £6625; b) £6615;
c) £6515; d) £6660.
3. A bank pays 6% per annum
compound interest. How much will the following people have in the bank after
the number of years stated?
Kim: £9000
after 2 years.
а) £10,714.16;
b) £10,714.10;
c) £10,718.14;
d) £10,714.14.
4. A bank pays 6%
per annum compound interest. How much will the following people have in the
bank after the number of years stated?
Freddie: £4000
after 3 years.
а) £4766.66 ;
b) £4764.60;
c) £4764.06;
d) £4764.08.
5. A bank pays 6%
per annum compound interest. How much will the following people have in the
bank after the number of years stated?
Les: £2500
after 2 years.
а) £2819; b) £2809;
c) £2812; d) £2803.
6. A bank pays 6% per annum compound interest. How much will the
following people have in the bank after the number of years stated?
Olive: £600
after 2 years.
а) £674.16;
b) £676.18;
c) £672.12;
d) £664.96.
7. A stereo loses 30%
of its value every year. Tim bought it for £800. How much would it be worth after 2
years?
а) £398; b) £382;
c) £392; d) £390.
8.
A stereo loses 30% of its value every year. Tim bought it for £800. How much would it be worth after 3
years?
а) £274.40; b) £274.60;
c) £278.45; d) £276.60.
9. The number of fish in a lake is decreasing
by 5% each year. There are 10000
fish in the lake at the start of 2005. How many fish are there in the lake at the end of 2005?
а) 9520; b) 9500;
c) 9480; d)
9550.
10. The number
of fish in a lake is decreasing by 5% each year.
There are 10000 fish in the lake at the start of 2005.
How many fish are there in the lake at the end of 2006?
а) 9015; b)
9020;
c) 9025;
d) 9055.
11. Inflation is
how much more expensive things in the shop get each year. Inflation is about 3%.
If a pair of shoes costs £50, how much will the pair of shoes cost after 2
years?
а) £52.05; b) £53.20;
c) £53.15; d) £53.05.
12. Inflation is
how much more expensive things in the shop get each year. Inflation is about 3%.
If a pair of shoes costs £50, how much will the pair of shoes cost after 3
years?
а) £54.44; b) £54.64;
c) £54.68; d) £54.60.
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