LESSON 23/05/2016

Question 1

Compound interest means…

Answer 1

Compound interest is interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.

Question 2

What would you type in the calculator to work this out?

Compound interest: Invest £2000 for 3 years at a rate of 12.5%

Answer 2

2000 x 1.125^(3)

Question 3

What is depreciation?

Answer 3

A decrease in value of an item over a period of time

Question 4

What would you type in the calculator to work this out?

Work out the latest cost: A car costs £5000 and depreciates by 7.3% for 4 years?

Answer 4

5000 x 0.927^(4)

Question 5

What type in the calculator to work this out?

A coat cost £45 after a reduction of 7%. What was the original price?

Answer 5

45/93=a a x 100=ans

Question 6

What would you type in the calculator to work this out?

A slug weighs 8 grams after an increase of 42%. What was its original weight?

Answer 6

8/142=a a x 100=ans

Question 7

How do you workout reverse percentages?

Answer 7

Divide the amount by the multiplier

Question 8

What is standard form?

Answer 8

Standard form is a way or writing very large or very small numbers easily. It has a number less then 10 multiplied by 10 to a power which is always an integer

Question 9

When you label a trapezium, what are a,b and h

Answer 9

a- top width

b- bottom width

h- height

Question 10

What do you need to remember about upper and lower bounds?

Answer 10

The upper and lower band are always to .5 for example the lower band of 2 is 1.5 and the upper band us 2.5