iGCSE Mathematics (0580) - C1.16 Money- Exam Style Questions Paper 3- New Syllabus
▶️ Answer/Explanation
Using the formula provided in the question:
Total cost = $128 \times 1.52$
Total cost = $194.56$
✅ Answer: $\$194.56$
▶️ Answer/Explanation
Use the compound interest formula to find the total amount: $A = P \left(1 + \frac{r}{100}\right)^n$
$A = 500 \left(1 + \frac{2}{100}\right)^7 = 500(1.02)^7 = 574.34$
The question asks for the amount of interest earned, so subtract the initial investment:
$574.34 – 500 = 74.34$
✅ Answer: $\$74.34$