Revision (Grade 11 NSC Matric Mathematics): Quizzes

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How is simple interest calculated?

Only on the principal amount

What makes compound interest grow faster over time?

Interest on interest effect

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

In the formulas, what does the variable ii represent?

Interest rate as a decimal

Convert 12.5% to decimal form.

0.125

Calculate simple interest: P=3450P = 3450, i=0.125i = 0.125, n=5n = 5. What is AA?

R5606.25

Calculate compound interest: P=3450P = 3450, i=0.104i = 0.104, n=5n = 5. What is AA?

R5658.02

How does simple interest grow compared to compound interest?

Straight line vs exponential

Why does compound interest become more advantageous with longer investment periods?

More time for interest on interest

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