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3.6 Monetary policy

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Question 32

A manufacturer finances new equipment using a variable-rate business loan. The amount outstanding is £75,000. The bank then raises the annual interest rate on this loan from 5.2% to 6.0%.

Calculate how much more interest the manufacturer will pay over a full year at the new rate than at the old rate.

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Markscheme

3.6 Monetary policy Questions

  1. GCSE
  2. /Economics
  3. /3.6 Monetary policy

116 exam-style questions on OCR GCSE Economics 3.6 Monetary policy, covering 3.6.1 What is monetary policy, 3.6.2 Monetary policy and macro objectives, and 3.6.3 Effects of monetary policy. Each one has a worked solution and a mark scheme showing where the marks go.

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