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Question 1: £8,000 is invested in a savings account for 6 years. The compound interest rate is 4.5% per annum. Work out the total interest earned after 6 years. Give your answer correct to the nearest pence. |

Question 2: The giraffe population at the start of the year 2019 was 106,000. It declines at a rate of 1.2% each year. Calculate the giraffe population at the start of the year 2031. Give your answer correct to the nearest whole number. |

Question 3: An antique painting is bought at auction for £495,000. It appreciates at a rate of 9.6% each year. Calculate the increase in the value of the painting after 13 years. Give your answer correct to the nearest whole number. |

Question 4: An antique painting is bought at auction for £162,000. It appreciates at a rate of 6.4% each year. Calculate the value of the painting after 15 years. Give your answer correct to the nearest whole number. |

Question 5: The giraffe population at the start of the year 1990 was 140,000. It declines at a rate of 3% each year. Calculate the decrease in the giraffe population at the start of the year 2001. Give your answer correct to the nearest whole number. |

Question 6: £8,750 is invested in a savings account for 10 years. The compound interest rate is 1.5% per annum. How much is in the savings account after 10 years? Give your answer correct to the nearest pence. |

Question 7: A new car is bought for £19,750. It depreciates by 30% each year for 14 years. Calculate the loss in value after 14 years. Give your answer correct to the nearest pence. |

Question 8: A new car is bought for £15,250. It depreciates by 29% each year for 8 years. How much is the car worth after 8 years? Give your answer correct to the nearest pence. |

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# Answers

Question 1: £2,418.08 |

Question 2: 91,704 |

Question 3: £1,134,830 |

Question 4: £410,809 |

Question 5: 39,858 |

Question 6: £10,154.73 |

Question 7: £19,616.05 |

Question 8: £984.77 |