Growth Formula: Challenge & Extension
Mathematics
GCSE Foundation
14 questions
~28 mins
1 views0 downloads
About This Worksheet
A challenging worksheet focusing on the Growth Formula for compound interest annually, designed to deepen understanding and apply concepts in various contexts.
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Growth Formula: Challenge & Extension
Subject: MathematicsGrade: GCSE Foundation
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Untitled Worksheet
Grade GCSE Foundation
A
Introduction
Read the key concept carefully before attempting the questions.
1.
The Growth Formula for compound interest compounded annually is A = P(1 + r/100)^t. Explain the meaning of each variable in this formula.
[2 marks]2.
Calculate the amount after 3 years if £1,000 is invested at an annual interest rate of 5%.
[3 marks]3.
If the principal is £2,000 and the amount after 4 years is £2,432, what is the annual interest rate?
[3 marks]B
Fluency & Practice
Solve these procedural questions to strengthen your understanding.
1.
A principal of £500 grows to £610 in 2 years. Find the annual interest rate.
[3 marks]2.
What is the principal if £1,200 grows to £1,500 in 3 years at a fixed rate?
[3 marks]3.
Calculate the amount after 5 years if £750 is invested at an annual interest rate of 4%.
[3 marks]C
Problem Solving & Reasoning
Apply your understanding to multi-step problems. Show all working.
1.
A savings account starts with £2,500. If the interest rate is 3.5% per year compounded annually, how long will it take for the amount to double?
[4 marks]2.
An investment of £1,800 accrues interest and becomes £2,052 after 3 years. Determine the annual rate of interest, and verify if it is compounded annually.
[4 marks]D
Real-world Applications
Solve these contextual problems based on real-life scenarios.
1.
A bank offers a savings account with 4% interest compounded annually. How much will a deposit of £3,000 grow to in 10 years?
[3 marks]2.
A business invests £5,000 in a project that yields an annual growth rate of 6%. What will be the value after 7 years?
[3 marks]E
Challenge & Extension
Tackle these advanced problems to extend your understanding.
1.
An investment of £2,000 grows to £3,000 in 8 years. Assuming annual compounding, find the exact annual interest rate, and compare it to simple interest.
[4 marks]2.
Construct a graph on the grid to show the growth of an investment of £1,000 at 7% annual interest over 15 years. Label axes appropriately.
[2 marks]F
Mixed Review & Error Analysis
Review these questions to consolidate learning and identify common mistakes.
1.
A student calculates the amount after 4 years as £2,400 for a principal of £2,000 at 10% interest. Identify the mistake and correct it.
[4 marks]2.
A calculation states that £1,000 at 5% interest for 4 years results in £1,210. Is this correct? If not, what is the error?
[1 mark]Quick Actions
What is Remix?
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Details
- Created
- 1/1/2026
- Updated
- 1/1/2026
- Type
- worksheet