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Grade 9 · Financial Maths
Financial Maths: Interest, Hire Purchase & Exchange Rates
MEMORANDUM
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  / 18

Answer all questions. Show all your working — marks are awarded for method as well as the final answer. Teacher copy: accept any correct equivalent method.

  1. 1
    Find the simple interest on R4 000 at 9% p.a. for 3 years.
    (2)
    (4000×9×3)÷100 = R1 080✓✓ (2)
  2. 2
    R2 500 at 7% simple interest for 4 years — what is the total amount?
    (2)
    SI = R700 → total = R3 200✓✓ (2)
  3. 3
    Find the amount when R10 000 is invested at 5% compound interest for 2 years.
    (2)
    10000(1,05)2 = R11 025✓✓ (2)
  4. 4
    R6 000 at 10% compound interest for 3 years — total amount?
    (2)
    6000(1,1)3 = R7 986✓✓ (2)
  5. 5
    A TV costs R9 000. A 15% deposit is paid. How much is the deposit?
    (2)
    0,15 × 9000 = R1 350✓✓ (2)
  6. 6
    Using that deposit, what balance is owed?
    (2)
    9000 − 1350 = R7 650✓✓ (2)
  7. 7
    If $1 = R18,20, convert $150 to rands.
    (2)
    150 × 18,20 = R2 730✓✓ (2)
  8. 8
    If $1 = R18,20, convert R910 to dollars.
    (2)
    910 ÷ 18,20 = $50✓✓ (2)
  9. 9
    Calculate 6% commission on sales of R80 000.
    (2)
    0,06 × 80000 = R4 800✓✓ (2)
TOTAL: 18 marks
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