Percentages
Simple Interest
Compound interest
Inflation
Loans
100
50% of 150
75
100
Identify the formula for finding Simple Interest (SI)
SI = (Prt)/100
100
Identify the formula for finding R
R = 1 + r/100
100
Determine the growth multiplier (rule) to calculate inflation.
R = 1 + r/100
100
If you have a loan do you have to pay back only the principal?
No, you must pay back the interest also.
200
How do you convert a percentage to a decimal?
Divide by 100
200
Determine the value of t (years) if your time period is 36 months
3
200
By what decimal is an amount multiplied to increase it by 7%?
1.07
200
Write the percentage that an amount increases by when the amount is multiplied by 1.015.
1.5%
200
How does an increase in interest rates affect the value of the repayments on a loan?
It increases the value of the repayments.
300
Determine the discounted amount on a t-shirt costing $40 with a 20% off.
$8
300
Calculate the simple interest earned on a $4000 investment at 4.1% p.a. for 8 years.
$1312
300
Determine the monthly interest rate for a bank that offers a rate of 4.5% per annum.
0.375% per month
300
Seb owns some collectable baseball cards that are appreciating at 5% p.a. Today, the cards are worth $720. Calculate their value in a years time.
$756
300
How does an increase in the size of each loan repayment affect the time it takes to pay off the loan and the total amount paid on the loan in total?
It decreases the time taken to pay off the loan and the total amount to repay.
400
There are 2500 passengers on a cruise ship, of whom 8% are vegetarian. How many passengers are vegetarian?
200 passengers
400
Determine the simple interest on the following investment: $2960 at 5.5% p.a. for 4 months
$54.27
400
Harriet invested $8400 at 4% p.a. compounded yearly. Determine the future value of her investment after 3 years.
$9448.86
400
Today, a box of groceries costs $56. If inflation continues at 2% p.a., how much will the box of groceries cost in 4 years?
$60.62
400
When comparing interest rates do you look at the 'Advertised interest rate p.a' or 'Comparison rate p.a' to determine the best option.
Comparison rate
500
In an end-of-summer sale, the price of all dressers was reduced by 45%. Calculate the new sale price of a dress that was originally priced at $85.
$46.75
500
Liam owed $865 on his credit card. The credit card company charged him 1 month’s interest at 22% p.a. Calculate the total amount he owes after 1 month.
$880.86
500
Which investment has the better return for an $800 principal for a 6-year term?
Investment A: 3.4% p.a. simple interest
Investment B: 3.3% p.a. interest compounded yearly
Investment B is better ($172.06 interest earned compared to $163.20)
500
The population of a small rural town is increasing by 3% p.a. Today the population is 2450. If the annual growth continues at 3% per year, what will be the population of the town in 5 years?
2840
500
Determine C:
$11 772.21