Finance & Growth is one of 9 topics in the Grade 10 Technical Mathematics 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. Which formula represents simple growth (simple interest)?
A=P(1+in)
A=P(1+i)n
A=P+i
A=Pin
Answer:A=P(1+in) — The simple growth formula is A = P(1+in), where the interest is calculated only on the original principal each period.
Easy
2. Calculate the final amount when R5000 is invested at 8% simple interest per year for 3 years.
Answer: 6200 — A = 5000(1+0.08x3) = 5000(1.24) = 6200.
Medium
3. How much interest is earned each year on R5000 invested at 8% simple interest per year?
Answer: 400 — Simple interest per year = 5000 x 0.08 = R400 (the same amount every year).
