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2.8 The role of money and financial markets

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Question 12

A wildlife rescue centre places £7,500 of donations in a savings account for one year. Just before the deposit is made, the annual interest rate rises from 2.4% to 4.0%.

How much additional interest will the rescue centre earn over the year?

[1]
A

£12

B

£1,200

C

£7,620

D

£120

Markscheme

2.8 The role of money and financial markets Questions

  1. GCSE
  2. /Economics
  3. /2.8 The role of money and financial markets

82 exam-style questions on OCR GCSE Economics 2.8 The role of money and financial markets, covering 2.8.1 Money as a medium of exchange, 2.8.2 Role of the financial sector, 2.8.3 Importance of the financial sector, 2.8.4 Interest rates and saving, borrowing, investment, and 2.8.5 Effect of interest rate changes. Each one has a worked solution and a mark scheme showing where the marks go.

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