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2.1 Introduction to the national economy

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Question 5

A saver deposits £7500 for 18 months at a simple annual interest rate of 2.8%. Which option correctly gives the interest earned and the closing balance?

[1]
A

Interest £210; closing balance £7710

B

Interest £315; closing balance £7,815

C

Interest £315; closing balance £7500

D

Interest £420; closing balance £7920

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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