Year 10 - Maths
Simple interest calculations with technology
Percentages
Study Hub
Study Guides
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 with a calculator.
Key Notes
- Calculators are very useful here as they can be programmed efficiently.
- This saves time and can reduce error.
- It is also quick to reverse the process to find the original amount.
- The use of a multiplier ensures greater efficiency.
Vocabulary To Learn
- 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
- A single digit percentage is incorrectly worked out by dividing by 10 and not 100 e.g 3% = 0.3, e.g. 0.54% = 0.054
3 Quick Questions (With Answers)
1. Solve this in steps: explain the method from this lesson and why each step matters.
Calculators are very useful here as they can be programmed efficiently. This saves time and can reduce error.
2. Use this key word in a maths sentence and explain it clearly. 'Simple interest'
Interest is money added to savings or loans. Simple interest is always calculated on the original amount. Use this word when showing your method, then check your final answer is reasonable.
3. Spot and fix this common maths mistake.
Mistake: A single digit percentage is incorrectly worked out by dividing by 10 and not 100 e.g 3% = 0.3, e.g. 0.54% = 0.054. Correction: Dividing the percentage by 100 gives the decimal equivalent i.e 0.54% = 0.0054.
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 Study Guide
Browse all guides in the Year 10 Maths guide library.