Interest rates test questions

1

Lindy puts \(\pounds78\) into an account which pays interest at a rate of \(5\%\) per annum.

How much money would she have after two months?

2

Georgina puts \(\pounds45\) into an account which pays interest at a rate of \(5.2\%\) p.a.

How much money would she have after a year?

3

Tom saves \(\pounds2440\) and deposits it in a high interest account which pays interest at a rate of \(9.5\%\) per annum.

How much interest does Tom get if he leaves his money in the account for \(6\) months?

4

Michelle invests \(\pounds4200\) in a Platinum Saver Account which pays \(6.3\%\) interest per annum.

How much simple interest will she receive after \(10\) months?

5

Mr. Schneider invests \(\pounds1500\) at \(8\%\) per annum.

Eight months later he decides to lift out his interest to help pay for a night out.

How much will he draw out?

6

A sum of \(\pounds1640\) is invested in a bank. The rate of interest is \(4.5\%\) per annum.

Calculate the simple interest gained in \(9\) months.

7

A computer costs \(\pounds1800\) cash. The credit agreement terms are: deposit \(15\%\), followed by \(36\) payments of \(\pounds64.60\). Find the extra paid on the credit agreement.

8

A cooker can be bought on a credit agreement by paying a deposit of \(35\%\) and \(36\) monthly payments of \(\pounds11.40\).

The cooker's cash price is \(\pounds460\). How much is the credit agreement price?

9

The cash price of an electric cooker is \(\pounds540\).

The credit agreement terms are: Deposit \(- 20\%\) of the cash price and \(24\) monthly instalments of \(\pounds20.75\).

Calculate the total credit agreement price of the cooker.

10

Ali wished to buy a motorcycle at \(\pounds480\).

He chose to pay by credit agreement.

The terms were \(30\%\) deposit with \(12\) monthly payments of \(\pounds33.80\).

How much was the total credit agreement price?