Year 9
Year 9
Compound appreciation and depreciation (Part 2)
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Lesson details
Key learning points
- In this lesson, we will learn about more elements of compound appreciation and depreciation.
Licence
This content is made available by Oak National Academy Limited and its partners and licensed under Oak’s terms & conditions (Collection 1), except where otherwise stated.
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5 Questions
Q1.
Decreasing £100 by 5% for 8 years would give a final balance of...
£147.75 (to the nearest penny)
£60.00 (to the nearest penny)
£66.35 (to the nearest penny)
Q2.
If I deposited £500 in a bank account and left it there for 6 years at a rate of 4% compound interest, how much would I have at the end of the 6 years?
£524.00 (to the nearest penny)
£620.00 (to the nearest penny)
£632.66 (to the nearest penny)
Q3.
If an antique was originally bought for £55 and grew by 6.5% per year for 7 years, then the value at the end of 7 years would be £85.46 (to the nearest penny).
True
Q4.
If 53 increased by 23% for 'n' number of years, which of the following would provide a general formula to work out how much it had grown to?
0.23 x 53^n
1.23 x 53^n
53 x 0.23^n
Q5.
If an antique grew 6.5% a year for 7 years from the purchase price of £55, it would be worth £85.46 (to the nearest penny).
True
5 Questions
Q1.
If an investment of $500.00 increases by 13% per year for 6 years, the amount it would be at the end of the 6 years would be...
$1,040.97 (to the nearest cent).
$578.00 (to the nearest cent).
$825.00 (to the nearest cent).
Q2.
£100.00 decreases by 5% in one year, followed by an increase of 5% in the next year, and then decreases again by 2% for 8 years. What would the final amount be?
£100.00 (to the nearest penny)
£84.00 (to the nearest penny)
£84.87 (to the nearest penny)
Q3.
If a teddy bear depreciates from £3.00 by 18% per year for 5 years, what is the final value of the teddy bear?
£1.10 (to the nearest penny)
£1.12 (to the nearest penny)
£2.10 (to the nearest penny)
Q4.
In order to decrease an amount by 19% for 2 years, I would need to multiply the amount by 0.19^2
True
Q5.
In order to increase an amount by 7.5% for 3 years, I would need to multiply the amount by 1.075^3
False