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Question 1: An antique painting is bought at auction and appreciates at a rate of 3% each year. The value of the painting after 3 years is £131,127. Calculate the purchase price paid at auction. |

Question 2: Alfie says that a 39% increase followed by a 28% increase is the same as a 67% increase. Do you agree with them? Explain your answer. |

Question 3: A radioactive substance decays at a rate of 4.6% 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 4: A farmer buys a new combine harvester. It depreciates by 16% each year. After 2 years the combine harvester is worth £289,296.00. Calculate the purchase price correct to the nearest pence. |

Question 5: An investment of £750 grows by 22% per annum. What is the minimum number of years it will take for the investment to reach at least £1 million? |

Question 6: £4,000 is invested in a savings account for 5 years. The compound interest rate is 5.3% for the first 2 years and 3.2% for each year after that. How much is in the savings account after 5 years? Give your answer correct to the nearest pence. |

Question 7: A rubber ball is dropped from a height and continues bouncing. After every bounce it rises to 75% of its previous height. How many bounces will it take for the maximum height to be below 15% of the initial height? |

Question 8: Olivia spends £8,000 on their credit card but decides not to pay it off straight away. Interest is charged on this amount at a rate of 1.6% each month. How much interest has accumulated after 4 years? Give your answer correct to the nearest pence. |

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# Answers

Question 1: £120,000 |

Question 2: No, this is the same as a 77.92% increase overall. (1.39 x 1.28 = 1.7792) |

Question 3: 15 years |

Question 4: £410,000 |

Question 5: 37 years |

Question 6: £4,874.79 |

Question 7: 7 bounces |

Question 8: £9,139.10 |