Starter quiz
- Interest which is calculated on the original amount and the interest accumulated over the previous period is called __________ interest.
- average
- compound ✓
- linear
- repeated
- simple
-
- Match the type of sequence with its description.
- Arithmetic⇔a sequence with a common difference between successive terms. ✓
- Fibonacci⇔a sequence where each term is the sum of the two previous terms. ✓
- Geometric⇔a sequence with a common multiplier between successive terms. ✓
- Quadratic (e.g. square numbers)⇔a sequence with a common second difference. ✓
- Which of these could be the first 5 terms in an arithmetic sequence?
- 1, 2, 3, 4, 5, ... ✓
- 1, 2, 4, 8, 16, ...
- 8, 11, 14, 17, 20, ... ✓
- 15, 18, 22, 24, ...
- 16, 40, 100, 250, 375, ...
-
- Which of these could be the first 5 terms in a geometric sequence?
- 1, 2, 4, 8, 16, ... ✓
- 1, 4, 16, 36, 64, ...
- 3, 5, 8, 12, 20, ...
- 4, 20, 100, 500, 2500, ... ✓
- 5, 10, 15, 20, 25, ...
-
- If a geometric sequence starts 20, 60, 180, ... what is the common ratio (common multiplier)?
- '3' ✓
- If a geometric sequence starts 50, 60, 72, ... what is the common ratio? Give your answer as a decimal.
- '1.2' ✓
Exit quiz
What type of sequence has been shaded on Pascal's triangle?- An alternating sequence
- An arithmetic sequence ✓
- A Fibonacci sequence
- A geometric sequence
- A quadratic sequence (sequence with common second difference)
-
Which of these best describes the sequence of numbers shaded on Pascal's triangle?- An arithmetic sequence
- A geometric sequence
- The sequence of all cube numbers
- The sequence of all square numbers
- The sequence of all triangular numbers ✓
-
- £24 000 is borrowed at a compound interest rate of 5% a month. How much is owed after 3 months?
- '£27 783' ✓
- £800 is borrowed with yearly compound interest and after a year £1040 is owed. What is the yearly interest rate?
- 1.3%
- 13%
- 25%
- 30% ✓
- 40%
-
- A loans company charges 6% interest a month. If £2650 was owed after one month, how much was borrowed?
- '£2500' ✓
- £750 was borrowed with compound interest and after 2 years making no repayments £1080 was owed. What was the yearly interest rate?
- 6.6%
- 18%
- 20% ✓
- 44%
- 72%
-
Worksheet
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Presentation
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Video
Lesson Details
Key learning points
- Compound interest can be thought of as a geometric sequence.
- You can apply your knowledge of geometric sequences to solve compound interest problems.
Common misconception
A multiplier of 1.3 is used to increase a value by 3%
A multiplier of 1.3 is used to increase a value by 30%
Keywords
Interest - Interest is money added to savings or loans.
Compound interest - Compound interest is calculated on the original amount and the interest accumulated over the previous period.
Geometric sequence - A geometric sequence is a sequence with a constant multiplicative relationship between successive terms.
Common ratio - In a geometric sequence, the constant multiplier between successive terms is called the common ratio.
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