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Simple Interest CI WS

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Layan Salim
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3 views

Simple Interest CI WS

Uploaded by

Layan Salim
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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TOPIC: SIMPLE INTEREST & COMPOUND INTEREST

1. North Eastern Bank advertises savings with simple interest at 5% per


year. Khalid invests his money, $2000, in this bank.
How much money will he have at the end of 3 years?

2. Fiona leaves £1600 in the bank for four years. It earns compound
interest of 4% each year. Calculate the total amount that Fiona has
earned at the end of the four years.

3. Johanna invests £800 for 20 years in a bank account paying simple


interest. At the end of the 20 years, she earned £320 interest. Work
out the annual rate of interest.

4. Calculate the length of time for $2000 to earn $300 if invested at 5 %


p.a simple interest.

5. Pedro invested $800 at a rate of 5% per year compound interest.


Calculate the interest he has earned after 2 years.

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