Simple & Compound Interest (Grade 11)
Free printable Grade 11 General Mathematics worksheet on simple and compound interest, with every amount computed from A = P(1 + i)^n. Aligned to ACARA Senior Secondary General Mathematics (ACMGM006, ACMGM074, ACMGM096).
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Grade 11 · Math worksheet
Name
Date
Math
Consumer Finance: Simple & Compound Interest
Use I = P r t for simple interest and A = P(1 + i)^n for compound interest (i = rate per period, n = number of periods). Round money to the nearest cent.
- 1.$6,000.00 is invested at 10% per annum SIMPLE interest for 2 years. Find the interest earned and the final balance.
- 2.$7,500.00 is invested at 10% per annum SIMPLE interest for 5 years. Find the interest earned and the final balance.
- 3.$2,000.00 is invested at 6% per annum SIMPLE interest for 2 years. Find the interest earned and the final balance.
- 4.$4,500.00 is invested at 3% per annum SIMPLE interest for 6 years. Find the interest earned and the final balance.
- 5.$4,500.00 is invested at 4% per annum, compounded six-monthly (twice a year), for 4 years. Find the final amount (to the nearest cent).
- 6.$6,500.00 is invested at 8% per annum, compounded monthly, for 3 years. Find the final amount (to the nearest cent).
- 7.$2,500.00 is invested at 6% per annum, compounded annually, for 3 years. Find the final amount (to the nearest cent).
- 8.$9,000.00 is invested at 5% per annum, compounded annually, for 3 years. Find the final amount (to the nearest cent).
- 9.$7,000.00 is invested for 5 years at 6% per annum. How much MORE is earned with interest compounded annually than with simple interest?
- 10.$9,000.00 is invested for 3 years at 6% per annum. How much MORE is earned with interest compounded annually than with simple interest?
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