32 Questions
What is the formula for calculating simple interest?
Interest = P × r × t
What is the purpose of the formula A = l × w?
To calculate the area of a rectangle
What does the variable 'n' represent in the compound interest formula?
Number of times interest applied per time period
What is the formula for calculating the volume of a cylinder?
V = π × r^2 × h
What does the variable 'r' represent in the simple interest formula?
Interest rate (as a decimal)
What is the formula for calculating the surface area of a sphere?
SA = 4πr^2
What is the formula to calculate simple interest?
I = P × r × t
What is the formula to calculate compound interest?
A = P (1 + r/n)^(nt)
If R8,000 is invested at 6% per annum, what is the total amount after 4 years?
R9,920
What is the monthly repayment for a R100,000 loan at an annual interest rate of 6% over 20 years?
R1,654
What is the area of a rectangle with a length of 8m and a width of 5m?
40m²
What is the volume of a cylinder with a radius of 7cm and a height of 10cm?
1,538cm³
What is the surface area of a sphere with a radius of 6m?
452m²
If R5,000 is invested at an annual interest rate of 4% compounded monthly, what is the amount after 5 years?
R6,107
What is the monthly installment for a loan of R250,000 with a 9% annual interest rate over 15 years?
R4,556
If R2,000 is invested at 8% per annum compounded quarterly, what is the amount after 3 years?
R2,536
What is the total amount of money accumulated after 5 years if R3,000 is invested at an annual interest rate of 6% compounded quarterly?
R4,191.01
What is the monthly repayment for a R50,000 loan at an annual interest rate of 8% over 10 years?
R619.91
What is the surface area of a sphere with a radius of 8m?
2257.14 m²
What is the volume of a cylinder with a radius of 5cm and a height of 12cm?
1003.09 cm³
What is the simple interest on a loan of R20,000 at an interest rate of 7% per annum for 2 years?
R2,940
What is the area of a rectangle with a length of 12m and a width of 8m?
96 m²
What is the principal amount in the example of calculating simple interest, if R1,500 is the interest?
R10,000
What is the total amount after 4 years if R8,000 is invested at 6% per annum?
R9,920
What is the formula used to calculate the amount of an investment compounded monthly?
A = P × (1 + r/n)^(nt)
What is the annual interest rate in the example of calculating the monthly repayment for a loan of R100,000?
6%
What is the height of the cylinder in the example of calculating the volume of a cylinder?
10cm
What is the radius of the sphere in the example of calculating the surface area of a sphere?
6m
What is the length of the rectangle in the example of calculating the area of a rectangle?
8m
What is the width of the rectangle in the example of calculating the area of a rectangle?
5m
What is the formula used to calculate the monthly repayment for a loan?
R = (P × i) / (1 - (1 + i)^(-n))
What is the annual interest rate in the example of calculating the monthly installment for a loan of R250,000?
9%
Study Notes
Finance Formulas
- Simple Interest: Interest = P × r × t, where P is the principal amount, r is the interest rate, and t is the time period.
- Compound Interest: A = P (1 + r/n)^(nt), where A is the amount of money accumulated, P is the principal amount, r is the annual interest rate, n is the number of times interest applied per time period, and t is the time the money is invested or borrowed for.
- Loan Repayments: R = P × i / (1 - (1 + i)^(-n)), where R is the monthly repayment, P is the principal loan amount, i is the monthly interest rate, and n is the number of payments.
Measurement Formulas
- Area of a Rectangle: A = l × w, where A is the area, l is the length, and w is the width.
- Volume of a Cylinder: V = π × r^2 × h, where V is the volume, r is the radius of the base, and h is the height of the cylinder.
- Surface Area of a Sphere: SA = 4 × π × r^2, where SA is the surface area, and r is the radius.
Examples
Simple Interest
- Calculate the simple interest on a loan of R10,000 at an interest rate of 5% per annum for 3 years: Interest = R1,500.
- Find the total amount after 4 years if R8,000 is invested at 6% per annum: Total Amount = R9,920.
Compound Interest
- Calculate the amount of an investment of R5,000 at an annual interest rate of 4%, compounded monthly, after 5 years: Amount = R6,107.
- If R2,000 is invested at 8% per annum compounded quarterly, what will be the value after 3 years: Amount = R2,536.
Loan Repayments
- Determine the monthly repayment for a R100,000 loan at an annual interest rate of 6%, to be repaid over 20 years: Monthly Repayment = R1,654.
- Calculate the monthly installment for a loan of R250,000 with a 9% annual interest rate over 15 years: Monthly Repayment = R4,556.
Measurement
- Calculate the area of a rectangle with length 8m and width 5m: Area = 40m².
- Find the volume of a cylinder with a radius of 7cm and a height of 10cm: Volume = 1,538cm³.
- Determine the surface area of a sphere with a radius of 6m: Surface Area = 452m².
Finance Formulas
- Simple Interest: Interest = P × r × t, where P is the principal amount, r is the interest rate, and t is the time period.
- Compound Interest: A = P (1 + r/n)^(nt), where A is the amount of money accumulated, P is the principal amount, r is the annual interest rate, n is the number of times interest applied per time period, and t is the time the money is invested or borrowed for.
- Loan Repayments: R = P × i / (1 - (1 + i)^(-n)), where R is the monthly repayment, P is the principal loan amount, i is the monthly interest rate, and n is the number of payments.
Measurement Formulas
- Area of a Rectangle: A = l × w, where A is the area, l is the length, and w is the width.
- Volume of a Cylinder: V = π × r^2 × h, where V is the volume, r is the radius of the base, and h is the height of the cylinder.
- Surface Area of a Sphere: SA = 4 × π × r^2, where SA is the surface area, and r is the radius.
Examples
Simple Interest
- Calculate the simple interest on a loan of R10,000 at an interest rate of 5% per annum for 3 years: Interest = R1,500.
- Find the total amount after 4 years if R8,000 is invested at 6% per annum: Total Amount = R9,920.
Compound Interest
- Calculate the amount of an investment of R5,000 at an annual interest rate of 4%, compounded monthly, after 5 years: Amount = R6,107.
- If R2,000 is invested at 8% per annum compounded quarterly, what will be the value after 3 years: Amount = R2,536.
Loan Repayments
- Determine the monthly repayment for a R100,000 loan at an annual interest rate of 6%, to be repaid over 20 years: Monthly Repayment = R1,654.
- Calculate the monthly installment for a loan of R250,000 with a 9% annual interest rate over 15 years: Monthly Repayment = R4,556.
Measurement
- Calculate the area of a rectangle with length 8m and width 5m: Area = 40m².
- Find the volume of a cylinder with a radius of 7cm and a height of 10cm: Volume = 1,538cm³.
- Determine the surface area of a sphere with a radius of 6m: Surface Area = 452m².
Review key formulas for simple and compound interest in Grade 12 Math Literacy finance. Practice calculating interest rates and accumulated amounts. Essential for math literacy students.
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