Interest, Banking & Inflation is one of 9 topics in the Grade 11 Mathematical Literacy CAPS syllabus, covered across 3 lessons on Study Vault. Below are real practice questions from this topic with full worked answers.
Sample practice questions
Easy
1. At Grade 11 level, per the real CAPS curriculum, how is interest on loans and investments calculated?
Without using the A=P(1+rt) or A=P(1+r)^t growth formulae, using direct percentage-of-principal reasoning instead
Only using the A=P(1+rt) formula, since this is introduced at Grade 11
Only using the A=P(1+r)^t formula, since simple interest is not covered until Grade 12
Interest is not covered at all at Grade 11 level
Answer: Without using the A=P(1+rt) or A=P(1+r)^t growth formulae, using direct percentage-of-principal reasoning instead — Per the real Grade 11 CAPS Annual Teaching Plan, interest is calculated WITHOUT the growth formulae (that is Grade 12-only depth); Grade 11 uses direct percentage-of-principal reasoning applied to more complex banking contexts.
Medium
2. R12,000 is invested at an interest rate of 7% per annum. Calculate the interest earned in one year, in Rand.
Answer: 840 — Interest amount = principal x rate = R12,000 x 0.07 = R840.
Medium
3. A loan of R9,000 charges 11% interest per annum. Calculate the total amount owed after one year (principal plus interest), in Rand.
Answer: 9990 — Interest = R9,000 x 0.11 = R990. Total owed = R9,000 + R990 = R9,990.
