Fractions And Percentages Worksheet Page 25
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28MEP Pupil Text 11
11.8
Exercises
1.
Jane invests £1200 in a bank account which earns interest at the rate of 6% per
annum. Find the value of her investment after:
(a)
1 year
(b)
2 years
(c)
5 years.
2.
A sum of £5000 is to be invested for 10 years. What is the final value of the
investment if the annual interest rate is:
(a)
5%
(b)
4.8%
(c)
7.2%?
3.
Which of the following investments would earn most interest?
A
£300 for 5 years at 2% interest per annum,
B
£500 for 1 year at 3% interest per annum,
C
£200 for 3 years at 8% interest per annum
4.
The value of a computer depreciates at a rate of 25% per annum. A new computer
costs £1600. What will the value of the computer be after:
(a)
2 years
(b)
6 years
(c)
10 years?
5.
A car costs £9000 and depreciates at a rate of 20% per annum. Find the value of
the car after 3 years.
6.
John invests £500 in a building society with interest of 8.4% per annum. Karen
invests £200 at the same rate.
(a)
How many years does it take for the value of Karen's investment to become
greater than £300?
(b)
How many years does it take for the value of John's investment to become
greater than
(i)
£700
(ii)
£900?
7.
If the rate of inflation were to remain constant at 3%, find what the price of a jar of
coffee, currently priced at £1.58, would be in 4 years' time.
8.
The population of a third world country is 42 million and growing at 2.5% per
annum.
(a)
What size will the population be in 3 years' time?
(b)
In how many years' time will the population exceed 50 million?
9.
The value of a car depreciates at 15% per annum. A man keeps a car for 4 years
and then sells it.
(a)
If the car initially cost £6000, find:
(i)
its value after 4 years,
(ii)
the selling price as a percentage of the original value.
258
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