F3 Chapter 3 (Percentages) Revision

F3 Chapter 3 (Percentages) Revision

Simple Interest

• I = Prt

• A = I + P

Multiple Choice

Emilio borrows $1200 from a bank with 8% simple interest per year. What is the total amount that he has to pay back after 2 years?

• $150

• $192

• $1350

• $1392

Compound Interest

• A = P(1+r)ⁿ

• I = A - P

Multiple Choice

Principal = $500

Interest rate =5%

Time = 5 years

What is the simple interest earned?

• $95

• $105

• $125

• 125

Multiple Choice

What does "r" represent?

A = P(1+r)ⁿ

• interest rate given

• interest rate per period

• time period given

• number of compounding periods

Multiple Choice

What does "n" represent?

A = P(1+r)ⁿ

• interest rate given

• interest rate per period

• time period given

• number of compounding periods

Multiple Choice

You borrowed $59,000 for 2 years at 11% which was compounded annually. What is the amount will you pay back?

• $13,693.90

• $1,363.90

• $72,693.90

• $73,793.90

Multiple Choice

You borrowed $59,000 for 2 years at 11% which was compounded annually. What is the interest will you pay back?

• $13,693.90

• $1,363.90

• $72,693.90

• $73,793.90

Multiple Choice

Principal: $5000

Interest Rate: 3.75%

Time: 25 years

Compounded Monthly

State the interest per period.

• $$\frac{3.75\%}{12}$$

• $12,749.30

• $$\frac{3.75\%}{6}$$
  

• $$3.75\%$$

Multiple Choice

Principal: $5000

Interest Rate: 3.75%

Time: 25 years

Compounded Monthly

State the number of compounding periods.

• $$\frac{25}{12}$$

• $12,749.30

• $$25\times6$$
  

• $$25\ \times12$$

Multiple Choice

Principal: $5000

Interest Rate: 3.75%

Time: 25 years

Compounded Monthly

State the amount.

• $12712.31

• $12,749.30

• $12,657.59

• $12550.84

• Growth Factor

• Decay Factor

• Successive Changes

More about Percentage Changes

Multiple Choice

Increase 100 by 70%. What is the growth factor?

• 1.7

• 70%

• 30%

• 0.3

Math Response

Decrease 100 by 70%. What is the decay factor?

Type answer here

Correct Answer: 0.3

Deg^°

Rad

Multiple Choice

100 is increased by 20% and then decreased by 20%. What is the result?

• 120

• 100

• 96

• 98

Multiple Choice

The price of a wallet was $300. The price increased by 15% and then decreased by 30%. Find the price after the changes.

• $345

• $241.5

• $210

• $285

Math Response

There are 50 000 cars in a city now and its number grows at a constant rate of 20% per year. Find the number of cars in the city 3 years later.

Type answer here

Correct Answer: 86400

Deg^°

Rad

Multiple Choice

After giving a discount of 10% last month and a further discount of 15% this month, the price of the skirt is now $250. Find the price two months ago, correct to the nearest integer.

• $191

• $225

• $327

• $350

Poll

Choose the topic(s) that you are good at.

• simple interest

• compound interest

• growth and decay factor

• multiple changes

• percentage word problems

Poll

Choose the topic(s) that you need to review today before the test.

• simple interest

• compound interest

• growth and decay factor

• multiple changes

• percentage word problems