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Subjects / TY Numeracy Bridge / Money Matters

Simple and compound interest

Calculate interest on savings and loans and see why compound interest grows faster.

Transition Year Common
Helps to know first: Percentages in everyday life
15practice questions

Fill the gaps: 1 · Multiple choice: 5 · Numeric answer: 7 · Put in order: 1 · Short answer: 1

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Fill the gaps
Interest worked out only on the original amount is called interest. Interest worked out on the original amount plus interest already earned is called interest.

Word bank: simple compound fixed variable

Hint 1

One type ignores past interest; the other builds on it.

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