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2 marksSimple Interest

CSEC Mathematics · Question 1(c)(ii)

Mr Adams invested 5 000 at a credit union and received 5 810, inclusive of simple interest, after 3 years.

Determine the annual interest rate paid by the credit union.

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Other parts of this question

  1. 1(a)(i)Using a calculator, or otherwise, calculate 5 1/2 ÷ 3 2/3 + 1 4/5, giving your answer as a fraction in its lowest terms.[2 marks]
  2. 1(a)(ii)165 × 0.38², giving your answer as an EXACT value.[1 mark]
  3. 1(b)(i)Write your answer in (a)(ii) correct to two decimal places.[1 mark]
  4. 1(b)(ii)Write your answer in (a)(ii) correct to three significant figures.[1 mark]
  5. 1(b)(iii)Write your answer in (a)(ii) correct to the nearest whole number.[1 mark]
  6. 1(c)(i)Determine the simple interest earned.[1 mark]
  7. 1(c)(iii)Determine the length of time it will take for Mr Adams' investment to be doubled, at the same rate of interest.[2 marks]

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