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Maths Gcse Edexcel Higher

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  1. Scatter-Graphs-And-Correlation Edexcel Higher
    2 主题
  2. Cumulative-Frequency-And-Box-Plots Edexcel Higher
    4 主题
  3. Histograms Edexcel Higher
    3 主题
  4. Statistical-Diagrams Edexcel Higher
    7 主题
  5. Averages-Ranges-And-Data Edexcel Higher
    8 主题
  6. Combined-And-Conditional-Probability Edexcel Higher
    3 主题
  7. Tree-Diagrams Edexcel Higher
    1 主题
  8. Simple-Probability-Diagrams Edexcel Higher
    3 主题
  9. Transformations Edexcel Higher
    5 主题
  10. Vectors Edexcel Higher
    6 主题
  11. 3D-Pythagoras-And-Trigonometry Edexcel Higher
    1 主题
  12. Sine-Cosine-Rule-And-Area-Of-Triangles Edexcel Higher
    4 主题
  13. Pythagoras-And-Trigonometry Edexcel Higher
    4 主题
  14. Area-And-Volume-Of-Similar-Shapes Edexcel Higher
    1 主题
  15. Congruence-Similarity-And-Geometrical-Proof Edexcel Higher
    5 主题
  16. Volume-And-Surface-Area Edexcel Higher
    3 主题
  17. Circles-Arcs-And-Sectors Edexcel Higher
    2 主题
  18. Area-And-Perimeter Edexcel Higher
    4 主题
  19. Circle-Theorems Edexcel Higher
    7 主题
  20. Bearings-Scale-Drawing-Constructions-And-Loci Edexcel Higher
    5 主题
  21. Angles-In-Polygons-And-Parallel-Lines Edexcel Higher
    3 主题
  22. Symmetry-And-Shapes Edexcel Higher
    6 主题
  23. Exchange-Rates-And-Best-Buys Edexcel Higher
    2 主题
  24. Standard-And-Compound-Units Edexcel Higher
    5 主题
  25. Direct-And-Inverse-Proportion Edexcel Higher
    2 主题
  26. Problem-Solving-With-Ratios Edexcel Higher
    2 主题
  27. Ratios Edexcel Higher
    3 主题
  28. Sequences Edexcel Higher
    4 主题
  29. Transformations-Of-Graphs Edexcel Higher
    2 主题
  30. Graphing-Inequalities Edexcel Higher
    2 主题
  31. Solving-Inequalities Edexcel Higher
    2 主题
  32. Real-Life-Graphs Edexcel Higher
    4 主题
  33. Estimating-Gradients-And-Areas-Under-Graphs Edexcel Higher
    2 主题
  34. Equation-Of-A-Circle Edexcel Higher
    2 主题
  35. Graphs-Of-Functions Edexcel Higher
    6 主题
  36. Linear-Graphs Edexcel Higher
    4 主题
  37. Coordinate-Geometry Edexcel Higher
    4 主题
  38. Functions Edexcel Higher
    3 主题
  39. Forming-And-Solving-Equations Edexcel Higher
    3 主题
  40. Iteration Edexcel Higher
    1 主题
  41. Simultaneous-Equations Edexcel Higher
    2 主题
  42. Quadratic-Equations Edexcel Higher
    4 主题
  43. Linear-Equations Edexcel Higher
    1 主题
  44. Algebraic-Proof Edexcel Higher
    1 主题
  45. Rearranging-Formulas Edexcel Higher
    2 主题
  46. Algebraic-Fractions Edexcel Higher
    4 主题
  47. Completing-The-Square Edexcel Higher
    1 主题
  48. Factorising Edexcel Higher
    6 主题
  49. Expanding-Brackets Edexcel Higher
    3 主题
  50. Algebraic-Roots-And-Indices Edexcel Higher
    1 主题
  51. Introduction Edexcel Higher
    7 主题
  52. Using-A-Calculator Edexcel Higher
    1 主题
  53. Surds Edexcel Higher
    2 主题
  54. Rounding-Estimation-And-Bounds Edexcel Higher
    2 主题
  55. Fractions-Decimals-And-Percentages Edexcel Higher
    3 主题
  56. Simple-And-Compound-Interest-Growth-And-Decay Edexcel Higher
    4 主题
  57. Percentages Edexcel Higher
    3 主题
  58. Fractions Edexcel Higher
    4 主题
  59. Powers-Roots-And-Standard-Form Edexcel Higher
    4 主题
  60. Prime-Factors-Hcf-And-Lcm Edexcel Higher
    4 主题
  61. Number-Operations Edexcel Higher
    10 主题
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Exam code:1MA1

Simple interest

What is simple interest?

  • Interest is money that is regularly added to an original amount of money

    • This could be added yearly, monthly, etc

    • When saving money, interest helps increase the amount saved

    • With debt, interest increases the amount owed

  • Simple interest refers to interest which is based only on the starting amount

    • Each interest payment (or charge in the case of debt) will be the same

How do I calculate simple interest?

  • To find the total simple interest earned

    • Find a percentage (the percentage rate) of the starting amount

      • Use a multiplier to do this (e.g. 0.05 to find 5%)

    • Multiply this by the number of time periods (e.g. years) it is being applied for

  • To find the total balance after the simple interest has been earned

    • Use the same method as above, and add this on to the starting amount

Examiner Tips and Tricks

  • Double check:

    • Does the question ask for the interest earned, or the total amount at the end?

    • Do you need to round your answer? (e.g. to the nearest hundred)

Worked Example

A bank account offers simple interest of 4% per year. Nigel puts £ 250 into this bank account, and leaves it to earn interest for 6 years.

(a) Find the total amount of interest earned over the 6 year period.

Each year, 4% of the starting amount is added as interest
Find 4% of £ 250 using a multiplier

0.04 × 250 = 10

This amount of interest is earned every year, for 6 years

10 × 6 = 60

£ 60 of interest is earned 

(b) Find the total amount in the bank account at the end of the 6 year period.

Add the amount of interest earned, found in part (a), to the starting amount

250 + 60 = 310

£ 310

Worked Example

Noah invests £ 9000 at a rate of n percent sign simple interest per year, for 5 years. At the end of 5 years there is £ 11 700 in the account. Find the value of n.

Find the total amount of interest earned over the 5 years

11 700 – 9 000 = £ 2 700 total interest

As we are dealing with simple interest, the same amount of interest is earned each year
Find the interest earned each year

2 700 ÷ 5 = £ 540 interest per year

Find what percentage of the original amount this represents

540 over 9000 equals 0.06 equals 6 percent sign

£ 540 is 6% of the original £ 9000

bold italic n bold equals bold 6

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