Two are true, one is not

Exercise and reference answers

Questions

1. False statement

   The principal grows each year

   Statements

   1. The principal stays fixed
   2. The yearly interest stays fixed
   3. The principal grows each year

2. False statement

   Amount is principal minus interest

   Statements

   1. Amount is principal minus interest
   2. Rate is quoted per annum
   3. Amount is principal plus interest

3. False statement

   Doubling the term quadruples the interest

   Statements

   1. Three years gives three times the interest
   2. Doubling the term quadruples the interest
   3. Doubling the term doubles the interest

Explanation