0580/11 May/Jun 2022, Question 19: Simple Interest
Cambridge IGCSE Mathematics 0580 · Paper 11 (Core) · Calculator · 3 marks
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The question, in short
Lin invests $16 000 at r% yearly simple interest; after 5 years the total is $17 920. Find r.
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Solution · 3 marks
- 1Interest = 17 920 − 16 000 = 1920
- 2Interest per year = 1920 ÷ 5 = 384
- 3r = 384/16 000 × 100 = 2.4
Answer2.4
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