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WorksheetsCompound Interest
Total questions: 10
Worksheet time: 9mins
Pemba was given Rs2000 when he turned 3 years old. His parents invested it at a 12% interest rate compounded annually. No deposits or withdrawls were made. Which expression can be used to determine how much money Pemba had in the account when he turned 6?
2000(1+0.12)3
2000(1-0.12)3
2000(1+0.12)6
2000(1-0.12)6
What is the correct definition of interest?
money paid to you by a bank for the money you have in a bank account
put into a bank account
to borrow something
A=P(1+100r)n What does the n stand for in this formula?
The number of times compounded per year
Final amount
Rate
Time
Annu puts Rs300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?
4
8
12
16
You lend Rs240 to your friend. He pays you back Rs30 in interest in one year. What interest rate did you charge your friend?
88%
20%
12.5%
10%
The compound interest formula is:
A = P(1 + r)t
What does the A represent?
The amount of interest earned.
The amount of time that has passed.
The total amount of money after a certain amount of time.
The amount required to invest.
What does the rate have to be in?
scientific notation
negative integers
positive integers
decimal
Which of the following compound rate has more interest for a year?
Semi-Annually < Annually
Semi-Annually > Annually
Semi-Annually = Annually
Semi-Annually = Annually
