Simple Interest and Compound Interest (HSC SSCE Mathematics Standard): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is interest in financial terms?
What is interest in financial terms?
Money earned when lending or paid when borrowing
What is the key feature of simple interest?
What is the key feature of simple interest?
It is always calculated on the principal
In the formula , what does represent?
In the formula , what does represent?
Rate of interest per period as a decimal
Calculate simple interest on 10,000 USD at 8% p.a. for 2 years using .
Calculate simple interest on 10,000 USD at 8% p.a. for 2 years using .
1,600 USD
What formula calculates the amount owed or future value?
What formula calculates the amount owed or future value?
How does compound interest differ from simple interest?
How does compound interest differ from simple interest?
It calculates interest on interest
Why does compound interest increase each year?
Why does compound interest increase each year?
You earn interest on previously earned interest
What is the compound interest formula?
What is the compound interest formula?
How should 7.5% be expressed in the simple interest formula?
How should 7.5% be expressed in the simple interest formula?
0.075
For monthly compounding over 3 years, what is in ?
For monthly compounding over 3 years, what is in ?
36