0580/22 May/Jun 2024, Question 8: Simple Interest
Cambridge IGCSE Mathematics 0580 · Paper 22 (Extended) · Calculator · 3 marks
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The question, in short
Kai invests $5000 at simple interest of r% per year; after 8 years the investment is worth $5700. Find r.
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Solution · 3 marks
- 1Interest = 5700 − 5000 = $700
- 25000 × r/100 × 8 = 700
- 3r = 700 × 100 ÷ (5000 × 8) = 1.75
Answer1.75
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