Simple+Interest

**__Simple Interest Part I__** Open this file and save it to your laptop for the notes on today's lesson.  This is a powerpoint presentation about clever shopping and explains how the maths works.  Now attempt the questions below. 1. Calculate the simple interest charged for a loan of: a) $620 at 18% p.a. for 4 years  b) $4500 at 26% p.a. for 5 years  c) $15.60 at 15% p.a. for 3 years  d) $90 000 at 7% p.a. for 25 years  e) $500 for 2 years at 14% p.a.   2. Calculate the simple interest earned on: a) $98 at 6.4% p.a. for 5 years  b) $120.80 at 6.5% p.a. for 2 years  c) $600 at 5.8% p.a. for 4 years  d) $138 at 8.25% p.a. for 2 years  3. Calculate the simple interest charged for a loan of: <span style="color: #000080; display: block; font-family: 'Comic Sans MS',cursive; font-size: 150%; text-align: left;">a) $2000 for 3 months at 1.1% per month  <span style="color: #000080; display: block; font-family: 'Comic Sans MS',cursive; font-size: 150%; text-align: left;">b) $8550 for 2 months at 1.6% per month  <span style="color: #000080; display: block; font-family: 'Comic Sans MS',cursive; font-size: 150%; text-align: left;">c) $96 for 7 months at 0.9% per month  <span style="color: #000080; display: block; font-family: 'Comic Sans MS',cursive; font-size: 150%; text-align: left;">d) $900 for 18 months at 0.7% per month  <span style="color: #000080; display: block; font-family: 'Comic Sans MS',cursive; font-size: 20px; line-height: 29px; text-align: left;">e) $180 000 for 6 months at 1.2% per month   <span style="color: #008000; display: block; font-family: 'Comic Sans MS',cursive; font-size: 20px; line-height: 29px; text-align: left;">4. Calculate the simple interest on: <span style="color: #008000; display: block; font-family: 'Comic Sans MS',cursive; font-size: 20px; line-height: 29px; text-align: left;">a) $6200 at 12% p.a. for 6 months  <span style="color: #008000; display: block; font-family: 'Comic Sans MS',cursive; font-size: 20px; line-height: 29px; text-align: left;">b) $1150 at 10% p.a. for 1 month  <span style="color: #008000; display: block; font-family: 'Comic Sans MS',cursive; font-size: 20px; line-height: 29px; text-align: left;">c) $1150 at 10% p.a. for 7 months  <span style="color: #008000; display: block; font-family: 'Comic Sans MS',cursive; font-size: 20px; line-height: 29px; text-align: left;">d) $20 000 at 7% p.a. for 11 months  <span style="color: #008000; display: block; font-family: 'Comic Sans MS',cursive; font-size: 20px; line-height: 29px; text-align: left;">e) $8400 at 17% p.a. for 9 months <span style="display: block; font-family: 'Comic Sans MS',cursive; font-size: 20px; line-height: 29px; text-align: center;">Here is an extension question for fast finishers. <span style="color: #000080; display: block; font-family: 'Comic Sans MS',cursive; font-size: 20px; line-height: 29px; text-align: left;">5. Calculate the simple interest earned on: <span style="color: #000080; display: block; font-family: 'Comic Sans MS',cursive; font-size: 20px; line-height: 29px; text-align: left;">a) $490 for 76 days at 16% p.a.  <span style="color: #000080; display: block; font-family: 'Comic Sans MS',cursive; font-size: 20px; line-height: 29px; text-align: left;">b) $1096 for 207 days at 26% p.a.  <span style="color: #000080; display: block; font-family: 'Comic Sans MS',cursive; font-size: 20px; line-height: 29px; text-align: left;">c) $740 for 9 days at 37% p.a.  <span style="color: #000080; display: block; font-family: 'Comic Sans MS',cursive; font-size: 20px; line-height: 29px; text-align: left;">d) $9700 for 304 days at 9% p.a.  <span style="color: #000080; display: block; font-family: 'Comic Sans MS',cursive; font-size: 20px; line-height: 29px; text-align: left;">e) $6000 for 40 days at 10.25% p.a.