Simple Interest & Budgets (Grade 8) — Worksheet & Memo

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Grade 8 · Financial Maths

Simple Interest & Budgets (Grade 8)

WORKSHEET

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/ 18

Answer all questions. Show all your working — marks are awarded for method as well as the final answer.

1
Calculate the simple interest on R4 000 at 7,5% p.a. for 3 years.
(2)
2
Calculate the total amount in the account after those 3 years.
(2)
3
Calculate the simple interest on R1 500 at 6% p.a. for 4 years.
(2)
4
Write 7,5% as a decimal.
(2)
5
Using the budget below, calculate the total monthly expenses.
(2)
6
Using the budget below, what percentage of the income goes on rent?
(2)
7
Using the budget below, calculate the surplus.
(2)
8
If transport rises from R900 to R1 300 and nothing else changes, calculate the new surplus.
(2)
9
What does it mean if a budget shows a deficit?
(2)

TOTAL: 18 marks