GCSE Maths (Edexcel)

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Calculating Simple Interest

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Ratio, Proportion and Rates of Change Ratio, Proportion and Rates of Change

Calculating Simple Interest

5:26 Interest
Spec R9 R16
Previous Growth & Decay Next Growth & Decay as an Iterative Process
  • Simple interest is calculated by adding a fixed amount of money at the end of each time period
  • The amount of money added is determined by multiplying the original percentage by the number of time periods
  • It is important to check whether a question requires simple interest or compound interest
  • Example 1: A loan scheme with 8% simple interest, calculate the amount to be paid back after 3 years
  • Example 2: A car depreciates by 5% each year, calculate the value of the car after 4 years

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