Introduction
Good Day!
Todays lesson will be about Simple Interest. Please watch the short video below.
Task
Grade 11 - Simple Interest
Complete the following activities below.
- Read each question carefully.
- Understand what is required of you.
- Do not write the answer only!
- Marks will be awarded for steps in a sum
Activity 1
Sally puts R200 in her bank account. Each year, her account earns 8% simple interest per annum.
1. How much will be in her account after 3 years?
Activity 2
Ms Fasil borrowed R50 000 from Women's bank to start he small business. She agreed to pay back the money at interest rate of 8.5% simple interest over five years.
1. Calculate the amount of interest that was was added after the 1st year.
2. Determine the total amount Ms Fasil paid back after the 5 year period.
Process
Use the given links and videos below to understand more about simple interest. The links below also contains explanations and examples on how to calculate simple interest without using a formula.
What is simple interest?
Understanding what is simple interest?
Simple interest calculations :https://www.investopedia.com/terms/s/simple_interest.asp
Examples of simple interest:https://intl.siyavula.com/read/maths/grade-10/finance-and-growth/09-finance-and-growth-01
Evaluation
Activity 1 is counts for 3 marks.1 marks are for showing showing correct calculations. 1 mark is for the correct answer.
Activity 2.1 is counts for 2 marks. 1 mark is for for correct calculations. 1 mark mark is for correct answer.
Activity 2.2 counts for 4 marks. 3 marks is for correct calculations. 1 mark is for correct answer.
Conclusion
The above activities are preparations for your final examinations at the end of the year. The due date is for the above activities is the 27 August 2021. Good luck!
Credits
Supplied by Moegammad Peters.
You-tube videos