Simple Interest, Compound Interest & Ratios Quiz

CAMBRIDGE IGCSE MATHS (0580)

Paper 2 (P2): Simple Interest, Compound Interest & Ratios

Question 1: Shania invests $750 at a rate of \(2 \frac{1}{2}\%\) per year simple interest. Calculate the total amount Shania has after 5 years.
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Question 2: Hans invests $750 for 8 years at a rate of \(2\%\) per year simple interest. Calculate the interest Hans receives.
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Question 3: Boris invests $280 for 2 years at a rate of \(3\%\) per year compound interest. Calculate the interest Boris receives at the end of the 2 years. Give your answer correct to 2 decimal places.
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Question 4: Emily invests \(x\) at a rate of \(3\%\) per year simple interest. After 5 years, she has $20.10 interest. Find the value of \(x\).
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Question 5: The population of Dubai at the end of 2012 was 2.1 million. This was predicted to increase at a rate of \(6\%\) each year. Calculate the predicted population of Dubai at the end of 2015.
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Question 6: Alex invests $200 for 2 years at a rate of \(2\%\) per year simple interest. Chris invests $200 for 2 years at a rate of \(2\%\) per year compound interest. Calculate how much more interest Chris has than Alex.
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Question 7: Robert buys a car for $8000. At the end of each year, the value of the car has decreased by \(10\%\) of its value at the beginning of that year. Calculate the value of the car at the end of 7 years.
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Question 8: It is estimated that the world's population is growing at a rate of \(1.14\%\) per year. On January 1st, 2014, the population was \(7.23\) billion.
(a) Find the expected population on January 1st, 2020.
(b) Find the year when the population is expected to reach \(10\) billion.
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Question 9: At the start of an experiment, there are \(20,000\) bacteria. The number of bacteria increases at a rate of \(30\%\) per hour.
(a) Work out the number of bacteria after \(4\) hours.
(b) After how many whole hours, from the start of the experiment, will the number of bacteria be greater than \(1,000,000\)?
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Question 10: Marcel invests $2500 for \(3\) years at a rate of \(1.6\%\) per year simple interest. Jacques invests $2000 for \(3\) years at a rate of \(x\%\) per year compound interest. At the end of the \(3\) years, Marcel and Jacques receive the same amount of interest. Calculate the value of \(x\), correct to \(3\) significant figures.
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Question 11: The value of a motorbike is $12,400. Each year, the value of the motorbike decreases exponentially by \(15\%\). Calculate the value of the motorbike after \(3\) years.
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Question 12: Jan invests $800 at a rate of \(3\%\) per year simple interest. Calculate the value of her investment at the end of \(4\) years.
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Question 13: There are \(30,000\) lions in Africa. The number of lions in Africa decreases exponentially by \(2\%\) each year. Find the number of lions in Africa after \(6\) years. Give your answer correct to the nearest hundred.
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Question 14: Maryah borrows $12,000 to start a business. The loan is for \(3\) years at a rate of \(5\%\) per year compound interest. The loan has to be paid back at the end of the \(3\) years. Calculate the total amount to be paid back.
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Question 15: Georg invests $5000 for 14 years at a rate of \(2\%\) per year compound interest. Calculate the interest he receives. Give your answer correct to the nearest dollar.
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Question 16: Hazel invests $1800 for 7 years at a rate of \(1.5\%\) per year compound interest. Calculate how much interest she will receive after the 7 years. Give your answer correct to the nearest dollar.
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Question 17: Acri invested $500 for 3 years at a rate of \(2.8\%\) per year compound interest. Calculate the final amount he has after 3 years.
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Question 18: Samantha invests $600 at a rate of \(2\%\) per year simple interest. Calculate the interest Samantha earns in 8 years.
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Question 19: Bruce invested $420 at a rate of \(4\%\) per year compound interest. Calculate the total amount Bruce has after 2 years. Give your answer correct to 2 decimal places.
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Question 20: Carol invests $6250 at a rate of \(2\%\) per year compound interest. Calculate the total amount Carol has after 3 years.
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Question 21: Pip and Ali share $785 in the ratio Pip: Ali = \(4:1\). Work out Pip's share.
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Question 22: Ralf and Susie share $57 in the ratio \(2:1\).
(a) Calculate the amount Ralf receives.
(b) Ralf gives $2 to Susie. Calculate the new ratio of Ralf's money: Susie's money. Give your answer in its simplest form.
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Question 23: Jamie needs 300 g of flour to make 20 cakes.
How much flour does he need to make 12 cakes?
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Question 24: Pedro and Eva do their homework.
Pedro takes 84 minutes to do his homework.
The ratio Pedro's time: Eva's time = \(7:6\).
Work out the number of minutes Eva takes to do her homework.
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Question 25: Ahmed and Babar share 240 g of sweets in the ratio \(7:3\).
Calculate the amount Ahmed receives.
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