Practice maths questions by Tabitha Jones https://padlet.com/tabi1/w8fbwl8ha5x1320v en-us 2023-03-07 15:26:27 UTC 2025-10-24 19:45:20 UTC hello@padlet.com QUESTION 1 tabi1 https://padlet.com/tabi1/w8fbwl8ha5x1320v/wish/2549858280 2023-04-11 08:02:28 UTC https://padlet.com/tabi1/w8fbwl8ha5x1320v/wish/2549858280 QUESTION 2 tabi1 https://padlet.com/tabi1/w8fbwl8ha5x1320v/wish/2549903594 2023-04-11 08:55:44 UTC https://padlet.com/tabi1/w8fbwl8ha5x1320v/wish/2549903594 Question 1 https://padlet.com/tabi1/w8fbwl8ha5x1320v/wish/2549943625 (Ed) A. 
2% x 5000 = 10,000 divide by 100 = 100 

100 X 6 (Months) 600 + Original 2%(100)  
=700

B. 
3.15% x 5000 = 15,750 divide by 100 = 157.5

Bank A would be the best option due to saving more money throughout the year than Bank B]]> 2023-04-11 09:46:24 UTC https://padlet.com/tabi1/w8fbwl8ha5x1320v/wish/2549943625 Lucas - Q1 lucaslathwell https://padlet.com/tabi1/w8fbwl8ha5x1320v/wish/2549948539 Answer - Bank A

5000/100 = 50
50x2 = 100
Bank A gives £100 in interest in the 1st 6 months.
5100/100 = 51 x 2 = 102
And gives £102 in the next 6 months.
for a total of £202 in the first year.
Bank A has compound interest.

5000/100 = 50
50x3.15 = 157.5
Bank B gives £157.5 a year in interest]]> 2023-04-11 09:52:46 UTC https://padlet.com/tabi1/w8fbwl8ha5x1320v/wish/2549948539 Question 2 https://padlet.com/tabi1/w8fbwl8ha5x1320v/wish/2549948930 (Ed)
£7.67 x 8 = £63.36 
6.5% x £61.36 = £3.9884 (£3.99)
£61.36 - £3.9884 (£3.99) = £57.316 (£57.37)


]]> 2023-04-11 09:53:20 UTC https://padlet.com/tabi1/w8fbwl8ha5x1320v/wish/2549948930 Vincent - Question 01 (revised) https://padlet.com/tabi1/w8fbwl8ha5x1320v/wish/2549949361 Decision:  Bank A

Show Working: 

Bank A: 2% Savings every 6 Months. 

So: 

1st 6 Months  = £5000 * 0.02 = £100 so £5100

2nd 6 Months = £5100 * 0.02 = £102 = £5202

Annual Totals:

Interest Accrued = £202

End of year figure including interest: £5202


Bank B: £5000 x 0.0315 = £157.5

Explanation and Support Calculations: 

Bank A gives a better return on investment of £202 per year, vs the £157.5 from Bank B

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