Summary (Grade 10 NSC Matric Mathematics): Quizzes

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What is the key difference between simple and compound interest?

What the interest is calculated on

Which formula represents simple interest?

A=P(1+in)A = P(1 + in)

Which formula represents compound interest?

A=P(1+i)nA = P(1 + i)^n

What type of growth does simple interest create?

Linear growth

Which type of interest is used for hire purchase agreements?

Simple interest

Which interest formula should be used for population growth calculations?

Compound interest

In the interest formulas, what does the variable PP represent?

Principal amount (original money)

In the interest formulas, what does the variable AA represent?

Accumulated amount (final total)

How should you convert 8% to a decimal for use in interest formulas?

0.08

If R1 = 39.46 MWK, what should you expect when converting R5000?

Much larger MWK amount

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