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Grade 9 · Whole Numbers
Financial Maths: Interest, Hire Purchase & Exchange Rates
MEMORANDUM
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Mark
  / 23

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)
    4 000 × 0,09 × 3 = R1 080✓✓ (2)
  2. 2
    R2 500 at 7% simple interest for 4 years — what is the total amount?
    (3)
    SI = R700 → total = R3 200✓✓✓ (3)
  3. 3
    Find the amount when R10 000 is invested at 5% compound interest for 2 years.
    (3)
    10 000(1,05)2 = R11 025✓✓✓ (3)
  4. 4
    R6 000 at 10% compound interest for 3 years — total amount?
    (3)
    6 000(1,1)3 = R7 986✓✓✓ (3)
  5. 5
    A TV costs R9 000. A 15% deposit is paid. How much is the deposit?
    (2)
    0,15 × 9 000 = R1 350✓✓ (2)
  6. 6
    Using that deposit, what balance is owed?
    (1)
    9 000 − 1 350 = R7 650✓ (1)
  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 × 80 000 = R4 800✓✓ (2)
  10. 10
    A trailer is hired for R250 per day plus R1,80 per kilometre. Calculate the cost of hiring it for 2 days and travelling 350 km.
    (3)
    2 × 250 = R500; 350 × 1,80 = R630; total = R1 130✓✓✓ (3)
TOTAL: 23 marks
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