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2.1 Introduction to the national economy

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Question 13

A charity has £6,000 in a savings account paying 3% interest per year. It also has a £10,000 loan charged at 7% interest per year.

Calculate how much more interest the charity pays on the loan than it earns on its savings over one year.

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Markscheme

2.1 Introduction to the national economy Questions

  1. GCSE
  2. /Economics
  3. /2.1 Introduction to the national economy

75 exam-style questions on AQA GCSE Economics 2.1 Introduction to the national economy, covering 2.1.1a What an interest rate is, 2.1.1b Interest rates and consumer decisions, 2.1.1c Interest rates, producer decisions and calculations, 2.1.2a UK government revenue and spending, and 2.1.2b Direct, indirect and progressive taxation. Each one has a worked solution and a mark scheme showing where the marks go.

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