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4024/13 May/Jun 2026, Question 9: Simple Interest

Cambridge O Level Mathematics 4024 · Paper 13 (Non-calculator) · Non-calculator · 5 marks

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The question, in short

Work out simple interest growth on $300 at 4% per year over 5 years, and find the percentage reduction when a $500 computer is cut to $400.

Summarised in our own words. Use the official paper for the exact wording and any diagrams.

Part (a) · 3 marks

Calculate the value of Ann's $300 investment after 5 years with simple interest at 4% per year.

  1. 1Interest per year = 4% of 300 = 12
  2. 2Interest for 5 years = 12 × 5 = 60
  3. 3Value = 300 + 60 = $360

Answer360

Part (b) · 2 marks

Calculate the percentage reduction when the computer's cost falls from $500 to $400.

  1. 1Reduction = 500 − 400 = 100
  2. 2100/500 × 100 = 20%

Answer20

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