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Simple interest
AQA GCSE Mathematics practice questions with step-by-step solutions
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Sample Questions
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EasyQuestion 1
[2 marks]£500 is invested at 4% simple interest per year.
How much interest is earned after 3 years?
Solution for Question 1
MediumQuestion 2
[3 marks]Ben invests £2400 at 3.5% simple interest per year.
(a) Calculate the interest earned after 5 years.
(b) What is the total value of his investment after 5 years?
Solution for Question 2
HardQuestion 3
[4 marks]Sarah invests some money at 6% simple interest per year. After 4 years, she earns £192 in interest.
How much did she invest?
Solution for Question 3
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Generate Unlimited QuestionsAbout Simple interest in AQA GCSE
Simple interest is calculated only on the original amount (principal), not on accumulated interest. The formula is: Simple Interest = (Principal × Rate × Time) ÷ 100, or I = PRT/100.
Unlike compound interest, simple interest gives the same amount of interest each year. If you invest £1000 at 5% simple interest for 3 years, you get £50 interest each year, giving £150 total interest.
To find the total amount after simple interest, add the interest to the principal: Total = Principal + Interest. Simple interest is less common in real life than compound interest, but it's easier to calculate and appears in GCSE exam questions.
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