Compound interest and growth
Learn Compound interest and growth for Years 9–11 pupils (ages 13–16). Free practice questions, lessons and worked examples — aligned to the UK National Curriculum.
What you'll learn
- 1
Compound interest is paid on the interest already earned, so the amount grows faster each year.
- 2
Use the multiplier repeatedly. For 5% per year over 3 years: amount × 1.05³.
- 3
What multiplier is used for 4% growth per year?
- 4
Do not multiply the percentage by the number of years. 5% for 3 years is not 15% — compounding makes it more.
- 5
£2,000 at 5% compound for 3 years: 2000 × 1.05³ = 2000 × 1.157625 = £2,315.25.
- 6
£1,000 at 10% compound for 2 years gives what?
- 7
A car worth £8,000 loses 10% of its value each year. What is the multiplier?
Practise Compound interest and growth with Whizlo
Free AI-tutored lessons, unlimited practice questions, and progress tracking for ages 13–16. Aligned to the UK National Curriculum.