Simple Interest Formula Maths Literacy Grade 11

In this lesson we take a look at interest simple interest and compound interest as well as consider key x ample questions and x ercises.

Simple interest formula maths literacy grade 11. Explain what the following investment terms mean. Xtra gr 11 maths literacy. Financial maths in this lesson on financial maths we focus on income expenses and profit cost and selling price percentage profit as well as profit margin. 60 minutes lesson 2 lesson summary for.

Simple interest formula is given as. Comparing simple and compound interest grade 11 simple and compound interest worksheet part a equations simple interest is always calculated on the original amount put in. 100 symbol explanation m method. Principal the amount originally put into the account r.

The formula for simple interest helps you find the interest amount if the principal amount rate of interest and time periods are given. You may use the formula. Revision video maths literacy grade 11 finance interest banking inflation. R interest rate in percentage t time duration in years.

Improve your skills with free problems in simple interest and thousands of other practice lessons. Rate the interest rate given as a decimal. A interest rate b investment term life c monthly payment d principal 2. Explain what the following loan terms mean.

A p 1 i n where. We calculate speed using the given formula. Interest in this lesson we take a look at interest simple interest and compound. Si p r t 100.

Grade 11 november 2015 mathematical literacy p1 memorandum marks. Grade 11 maths literacy lessons. Mathematical literacy grade 11 1. We see that the power of the term 1 i is the same as the number of years.

Charges simple interest at a rate of 21 75 per annum on the balance after the deposit has been paid. Therefore the general formula for calculating compound interest is. Area of a circle where 3 142 5 17 250 cm. A borrower b deposit c loan term life d lender e real total cost of a loan f interest rate.

Begin align a p left 1 i right n text 15 times left text 1 frac text 11 text 100 right text 4 text r text 22 77 end align. I prt i. Section content context application lesson objectives simple interest perform calculations involving simple interest through manual calculations without the use of a formulae. Interest the amount of new money gained in the account p.

Grade 11 subject mathematical literacy week 1 topic finance time.