Printable · GCSE Foundation · ages 14-16
Growth and decay, compound interest worksheet — GCSE Foundation
Fifteen questions on "growth and decay, compound interest" — DfE statement R16. Print it, or print three versions so neighbours cannot copy by letter; the key gives the letter for each version.
part HigherNon-calculatoronly 10 unique questions available
Growth and decay, compound interest worksheet — GCSE Foundation
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- 1.Leah puts £4000 into a savings account paying 3% compound interest each year. At the end of 2 years she takes out all of the money and spends £1500 of it on a laptop. Work out how much of the money she has left.
- 2.There are 2500 electric cars registered in a town. The number is predicted to increase by 6% each year. Work out the predicted number of electric cars after 3 years, to the nearest whole number.
- 3.The population of a village is 1200. It is predicted to grow by 5% next year. Work out the predicted population after 1 year, to the nearest whole number.
- 4.A car is bought for £12000. Its value falls by 15% in the first year and by 10% in each year after that. Work out the value of the car 3 years after it was bought.
- 5.Aisha invests £3200 in Account A, which pays 5% compound interest each year. She also invests £3200 in Account B, which pays 3% simple interest each year. Work out how much more Account A is worth than Account B after 2 years.
- 6.£2000 is invested in a savings account that pays 5% compound interest each year. Work out the value of the investment at the end of 2 years.
- 7.£5000 is invested in an account paying 4% compound interest each year. Work out the total interest earned after 3 years.
- 8.A colony of bacteria has 400 bacteria. The number increases by 15% each hour. Work out the number of bacteria after 1 hour.
- 9.A laptop is bought for £600. Its value decreases by 20% after 1 year. Work out the value of the laptop after 1 year.
- 10.The value of a motorbike falls by 12% each year. The motorbike is worth £3200 now. Write down the calculation that gives its value after 3 years.
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