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Question 1: A radioactive substance decays at a rate of 15.5% 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 2: £5,000 is invested in a savings account for 14 years. The compound interest rate is 6% for the first 2 years and 3% for each year after that. How much is in the savings account after 14 years? Give your answer correct to the nearest pence. |

Question 3: A rubber ball is dropped from a height and continues bouncing. After every bounce it rises to 65% of its previous height. How many bounces will it take for the maximum height to be below 20% of the initial height? |

Question 4: Emily spends £2,750 on their credit card but decides not to pay it off straight away. Interest is charged on this amount at a rate of 1.3% each month. How much interest has accumulated after 4 years? Give your answer correct to the nearest pence. |

Question 5: An investment of £5,500 grows by 20% per annum. What is the minimum number of years it will take for the investment to reach at least £1 million? |

Question 6: 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 £120,200. Calculate the purchase price paid at auction. |

Question 7: Oscar says that a 50% increase followed by a 50% decrease has no effect. Do you agree with them? Explain your answer. |

Question 8: A farmer buys a new combine harvester. It depreciates by 26% each year. After 3 years the combine harvester is worth £97,253.76. Calculate the purchase price correct to the nearest pence. |

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# Answers

Question 1: 5 years |

Question 2: £8,009.92 |

Question 3: 4 bounces |

Question 4: £2,361.94 |

Question 5: 29 years |

Question 6: £110,000 |

Question 7: No, this is the same as a 25% decrease overall. (1.5 x 0.5 = 0.75) |

Question 8: £240,000 |