Year 10 - Maths
Simple interest calculations
Percentages
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This pupil-friendly study guide includes a unit summary, clear notes, common mistakes, and quick questions with answers.
Unit Summary
In this unit pupils will learn how to perform simple and compound interest calculations using percentages.
Lesson Summary
You will learn to carry out simple interest calculations.
Key Notes
- Simple interest is calculated once and then added repeatedly.
- By considering the calculations for simple interest, you can be more efficient.
- Through understanding the structure, you can reverse the calculations to find the original amount.
Vocabulary To Learn
- Rate of interest: The rate of interest is the percentage by which an amount increases
- Simple Interest: Interest is money added to savings or loans. Simple interest is always calculated on the original amount
- Compound interest: Compound interest is the interest calculated on the original amount and the interest accumulated over the previous period.
Common Mistakes To Avoid
- Pupils should pay careful attention to what the question asks. Working out the overall amount after a simple or compound increase is different to working out the total interest only.
3 Quick Questions (With Answers)
1. Solve this in steps: explain the method from this lesson and why each step matters.
Simple interest is calculated once and then added repeatedly. By considering the calculations for simple interest, you can be more efficient.
2. Use this key word in a maths sentence and explain it clearly. 'Rate of interest'
The rate of interest is the percentage by which an amount increases. Use this word when showing your method, then check your final answer is reasonable.
3. Spot and fix this common maths mistake.
Mistake: Pupils should pay careful attention to what the question asks. Working out the overall amount after a simple or compound increase is different to working out the total interest only. Correction: Pupils can underline or highlight the key instruction to the question e.g. Total amount or total interest, to remind them of the need to subtract from the original amount or not.
More Lessons In This Unit
- Advanced problem solving with percentages Study Guide
- Calculating compound interest rates Study Guide
- Changing compound interest rates Study Guide
- Checking and securing understanding of finding a percentage Study Guide
- Checking and securing understanding of percentage decrease Study Guide
- Checking and securing understanding of percentage increase Study Guide
- Compound interest calculations Study Guide
- Compound interest calculations with technology Study Guide
- Percentage profit and loss Study Guide
- Problem solving with percentages Study Guide
- Simple and compound interest Study Guide
- Simple interest calculations with technology Study Guide
Browse all guides in the Year 10 Maths guide library.