Name: Date:

Question 1: Jacob says that a 90% increase followed by a 90% decrease has no effect. Do you agree with them? Explain your answer. |

Question 2: A farmer buys a new combine harvester. It depreciates by 28% each year. After 2 years the combine harvester is worth £160,704. Calculate the purchase price correct to the nearest pence. |

Question 3: Elaine spends £9,000 on their credit card but decides not to pay it off straight away. Interest is charged on this amount at a rate of 1.5% each month. How much interest has accumulated after 3 years? Give your answer correct to the nearest pence. |

Question 4: £2,750 is invested in a savings account for 10 years. The compound interest rate is 4.2% for the first 2 years and 2.1% for each year after that. How much is in the savings account after 10 years? Give your answer correct to the nearest pence. |

Question 5: A radioactive substance decays at a rate of 10.8% each year. What is the minimum number of years it will take for at least half of all the atoms of the radioactive substance to have decayed? |

Question 6: A rubber ball is dropped from a height and continues bouncing. After every bounce it rises to 70% of its previous height. How many bounces will it take for the maximum height to be below 16% of the initial height? |

Question 7: An investment of £2,000 grows by 23% per annum. What is the minimum number of years it will take for the investment to reach at least £1 million? |

Question 8: An antique painting is bought at auction and appreciates at a rate of 6% each year. The value of the painting after 3 years is £262,024. Calculate the purchase price paid at auction. |

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# Answers

Question 1: No, this is the same as a 81% decrease overall. (1.9 x 0.1 = 0.19) |

Question 2: £310,000 |

Question 3: £6,382.26 |

Question 4: £3,525.93 |

Question 5: 7 years |

Question 6: 6 bounces |

Question 7: 31 years |

Question 8: £220,000 |