Providing a summary of Grade 10 Financial Mathematics Notes for the South Africa NSC exams. Included are examples of questions that are in the exam. Has step by step easy to follow solutions and shows how to solve Grade 10 financial mathematics problems.
1 Introduction ................................................................................................................................................... 1
2 Simple Interest ............................................................................................................................................... 1
2.1 Example 1 .............................................................................................................................................. 1
2.2 Example 2 .............................................................................................................................................. 2
2.3 Example 3 .............................................................................................................................................. 2
3 Hire Purchase ................................................................................................................................................. 3
3.1 Example 1 .............................................................................................................................................. 3
3.2 Example 2 .............................................................................................................................................. 4
4 Compound Interest ........................................................................................................................................ 5
4.1 Example 1 .............................................................................................................................................. 5
5 Inflation .......................................................................................................................................................... 6
5.1 Example 1 .............................................................................................................................................. 6
6 Depreciation .................................................................................................................................................. 6
Notes from Layan Salie
, 1 INTRODUCTION
Equations used: 𝐴 = 𝑃(1 + 𝑖𝑛) and 𝐴 = 𝑃(1 + 𝑖)
Where:
𝑃 = Principal amount (How much it costs)
𝐴 = Accumulated amount (How much it increases to)
𝑖 = interest rate (i = interest, R =rate: I = , where R is in % and i is a decimal)
𝑛 = time (years)
2 SIMPLE INTEREST
𝐴 = 𝑃(1 + 𝑖𝑛)
Calculated after each year using the original amount.
2.1 EXAMPLE 1
A woman buys a PS4 for R8 000. She pays it off over 3 years at 8% per annum. How much will she have paid at
the end of 3 years?
Solution:
P = 8 000
A=?
i=
n=3
𝐴 = 𝑃(1 + 𝑖𝑛)
8
𝐴 = 8000(1 + × 3)
100
𝐴 = 𝑅24 640
1|P a g e
Notes from Layan Salie
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