Skip to content

Course home

Compound Interest and Depreciation

Compound Interest and Depreciation

EasyMediumHard
1234567891011121314151617181920212223242526272829
Question 22

Matt wants to invest £20000 for three years. He can choose between Bank A and Bank B.

Bank A

1% compound interest per annum

Bank B

2% compound interest in the first year 0.5% compound interest for each extra year

a.

Work out how much money Matt will have after three years if he chooses Bank A.

[2]
b.

Which bank will give Matt the most interest after three years? You must show your working.

[2]
Markscheme

Compound Interest and Depreciation Questions

  1. GCSE
  2. /Maths
  3. /Compound Interest and Depreciation

163 exam-style questions on Eduqas GCSE Maths Compound Interest and Depreciation. Each one has a worked solution and a mark scheme showing where the marks go.

Question bank