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2.1 Introduction to the national economy

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Question 21

A community theatre borrows £6,000 for two years. The total interest charged is £720, calculated using simple interest. What is the annual interest rate?

[1]
A

12%

B

6%

C

0.06%

D

24%

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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