Interest (Grade 12 NSC Matric Mathematical Literacy): 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 rate?
What is interest rate?
% charged for borrowing over a period
Calculate simple interest on R3500 at 10% per annum.
Calculate simple interest on R3500 at 10% per annum.
R350
If you borrow R3500 at 10% simple interest, what is the total amount to repay?
If you borrow R3500 at 10% simple interest, what is the total amount to repay?
R3850
What is a key characteristic of simple interest?
What is a key characteristic of simple interest?
Calculated on original principal only
A wall unit costs R6499.99 cash or R650 deposit + 36 × R449. What is the total hire purchase cost?
A wall unit costs R6499.99 cash or R650 deposit + 36 × R449. What is the total hire purchase cost?
R16814
In hire purchase, which amount should you use to calculate the interest rate?
In hire purchase, which amount should you use to calculate the interest rate?
Amount owed after paying deposit
What is compound interest calculated on?
What is compound interest calculated on?
Current balance including interest
Borrow R16000: 18% simple for 5 yrs or 16% compound for 5 yrs. Which costs more in total interest?
Borrow R16000: 18% simple for 5 yrs or 16% compound for 5 yrs. Which costs more in total interest?
16% compound (R17605.47)
With simple interest at 18% on R16000 over 5 years, what is the total interest paid?
With simple interest at 18% on R16000 over 5 years, what is the total interest paid?
R14400
Which statement about compound interest is true?
Which statement about compound interest is true?
Interest amount increases each period