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More simple interest

Exercise and reference answers

Questions
  1. Question
    20,000 at 10% per annum earns, in one year
    Choices
    1. 200
    2. 20,000
    3. 2,000
    Correct choice
    2,000
  2. Question
    Over three years that is
    Choices
    1. 6,000
    2. 2,000
    3. 3,000
    Correct choice
    6,000
  3. Question
    The amount after three years is
    Choices
    1. 20,000
    2. 26,000
    3. 6,000
    Correct choice
    26,000
  4. Question
    Doubling the term does what to simple interest?
    Choices
    1. halves it
    2. leaves it alone
    3. doubles it
    Correct choice
    doubles it

Explanation

The interest is the same each year, so it scales with the number of years. Source: syllabus Maths, Ch 7 Comparing Quantities.
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