Question 9 — IGCSE 0580 March 2024 Paper 42
Cambridge IGCSE Mathematics 0580, Extended tier, calculator. Topic: Numbers · Simple and compound interest. Worth 9 marks.
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Question text
9 (a) Janna and Kamal each invest $8000.
At the end of 12 years, they each have $12 800.
(i) Janna invests in an account that pays simple interest at a rate of r% per year.
Calculate the value of r.
r = ................................................ [3]
(ii) Kamal invests in an account that pays compound interest at a rate of R% per year.
Calculate the value of R.
R = ................................................ [3]
(b) The population of a city is growing exponentially at a rate of 1.8% per year.
The population now is 260 000.
Find the number of complete years from now when the population will first be more than 300 000.
........................................ years [3]
© UCLES 2024 0580/42/F/M/24
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