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Simple interest worked out

Exercise and reference answers

Questions
  1. Question
    10,000 at 15% per annum, interest for one year
    Choices
    1. 150
    2. 1,500
    3. 3,000
    Correct choice
    1,500
  2. Question
    Interest over two years
    Choices
    1. 1,500
    2. 1,300
    3. 3,000
    Correct choice
    3,000
  3. Question
    The amount after two years
    Choices
    1. 13,000
    2. 10,000
    3. 3,000
    Correct choice
    13,000
  4. Question
    Simple interest for 3 years would be
    Choices
    1. 3,000
    2. 4,500
    3. 1,500
    Correct choice
    4,500

Explanation

syllabus Example 7: 10,000 at 15% per annum gives 1,500 a year so 3,000 over two years and an amount of 13,000. Source: syllabus Maths, Ch 7 Comparing Quantities.
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