MA19-06 Maths Coming soon
Simple interest
MA19-06
This lesson is coming soon.
In this lesson
Calculate simple interest by applying a fixed percentage of the original amount once per year and multiplying by the number of years, explicitly distinguishing it from compound interest.
What it covers
- Calculating simple interest as principal x rate x time (or one year's interest repeated additively across years)
- Applying simple interest in financial-maths contexts
- Recognising the keyword 'simple' as signalling this specific, non-compounding model
- Giving a money answer to an appropriate degree of accuracy (2 decimal places, not significant figures)
Key words
For: AQA GCSE 8300, Cambridge IGCSE 0580, Edexcel GCSE 1MA1, Eduqas GCSE C300, OCR GCSE J560
On the specification
| Board | Spec | Statement |
|---|---|---|
| AQA GCSE 8300 | R9 | Define percentage as ‘number of parts per hundred’ |
| Cambridge IGCSE 0580 | C1.13 | Calculate a given percentage of a quantity. |
| Cambridge IGCSE 0580 | E1.13 | Calculate a given percentage of a quantity. |
| Edexcel GCSE 1MA1 | R9 | Define percentage as ‘number of parts per hundred’; interpret percentages and percentage changes as a fraction or a decimal, and interpret these multiplicatively; express one quantity as a percentage of another; compare two quantities using percentages; work with percentages greater than 100%; solve problems involving percentage change, including percentage increase/decrease and original value problems, and simple interest including in financial mathematics |
| Eduqas GCSE C300 | FR10 | Define percentage as 'number of parts per hundred'; interpret percentages and percentage changes as a fraction or a decimal, and interpret these multiplicatively; express one quantity as a percentage of another; compare two quantities using percentages; work with percentages greater than 100%; solve problems involving percentage change, including percentage increase / decrease and original value problems, and simple interest including in financial mathematics |
| Eduqas GCSE C300 | HR10 | Define percentage as 'number of parts per hundred'; interpret percentages and percentage changes as a fraction or a decimal, and interpret these multiplicatively; express one quantity as a percentage of another; compare two quantities using percentages; work with percentages greater than 100%; solve problems involving percentage change, including percentage increase / decrease and original value problems, and simple interest including in financial mathematics |
| OCR GCSE J560 | 2.03c | Increase or decrease a quantity by a simple percentage, including simple decimal or fractional multipliers. Apply this to simple original value problems and simple interest. |
| OCR GCSE J560 | 5.03a | Calculate simple interest including in financial contexts. |
For teachers
This GCSE Maths lesson teaches simple interest. By the end, students should be able to calculate simple interest by applying a fixed percentage of the original amount once per year and multiplying by the number of years, explicitly distinguishing it from compound interest. It works through two worked examples and the mistakes examiners report.