4MA1/1H Jan 2022, Question 11: Compound Interest
Pearson Edexcel International GCSE Mathematics A 4MA1 · Paper 1H (Higher) · Calculator · 3 marks
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The question, in short
Himari invests 200000 yen for 3 years at compound interest: 1.8% in year one, then x% in years two and three. The final value is 209754 yen. Find x to one decimal place.
Summarised in our own words. Use the official paper for the exact wording and any diagrams.
Solution · 3 marks
- 1After the first year: 200 000 × 1.018 = 203 600 yen
- 2Over the next two years the value goes from 203 600 to 209 754
- 3209 754 ÷ 203 600 = 1.030226
- 4That is the multiplier for two years, so one year is √1.030226 = 1.015
- 5A multiplier of 1.015 is a rise of 1.5%, so x = 1.5
Answer1.5
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