Edexcel GCSE Higher Percentage Worksheet
Free to print and use in your classroom. No sign-up required.
Edexcel GCSE Higher Percentage Worksheet
Formulae
Compound interest: A = P(1 + r/100)^n
Depreciation: A = P(1 − r/100)^n
Where P = starting value, r = annual rate (%), n = number of years, A = final value
All questions require a calculator. Show all working. Give monetary answers to the nearest penny unless stated otherwise. The number of marks available is shown in brackets.
1. After a 32% increase, a price is £396. Find the original price. [2 marks]
2. After a 45% reduction, a sofa costs £275. Find the original price. [2 marks]
3. A price including VAT at 20% is £252. Find the price before VAT. [2 marks]
4. Use A = P(1 + r/100)^n to find the value of £7,500 invested at 4% compound interest per year for 3 years. Give your answer to the nearest penny. [3 marks]
5. Use A = P(1 − r/100)^n to find the value of a car worth £21,000 after it depreciates at 17% per year for 3 years. Give your answer to the nearest pound. [3 marks]
6. Use A = P(1 + r/100)^n to find the value of £12,000 invested at 5.5% compound interest for 4 years. Give your answer to the nearest penny. [3 marks]
7. A car is bought for £15,000 and sold for £11,400. Calculate the percentage loss. [2 marks]
8. A jeweller buys a ring for £840 and sells it for £1,050. Calculate the percentage profit. [2 marks]
9. A house is worth £280,000. It appreciates at 3.8% per year compound. What is it worth after 5 years? Give your answer to the nearest pound. [3 marks]
10. £15,000 is invested at r% compound interest per year. After 2 years the total is £16,348.95. Use A = P(1 + r/100)^n to find r. Give your answer to 1 decimal place. [3 marks]
11. A salary rose by 8% in year 1 and by 5% in year 2. Calculate the overall percentage increase over the two years. [3 marks]
12. A population of 78,000 decreases at 2.2% per year compound. After how many complete years will it first fall below 70,000? Show your working. [4 marks]
13. After a 6.4% pay rise, a worker earns £38,296. What did they earn before the pay rise? [2 marks]
14. Leah buys a house for £230,000 and spends £12,500 on renovations. She sells the house for £272,500. Calculate the percentage profit on the total amount she spent. [3 marks]
15. An investment grows from £8,000 to £10,077.70 over 5 years with compound interest. Use A = P(1 + r/100)^n to find the annual interest rate. Give your answer to 1 decimal place. [4 marks]
16. A piece of equipment costs £45,000. It depreciates at 14% per year for 5 years. Use A = P(1 − r/100)^n to find the value after 5 years. Give your answer to the nearest pound. [3 marks]
17. A price is increased by 15% and then the new price is reduced by 15%. Show that the final price is 2.25% less than the original price and explain why the two changes do not cancel out. [3 marks]
18. Use A = P(1 + r/100)^n to find the minimum amount, to the nearest pound, that must be invested now at 3% compound interest per year so that the total is at least £20,000 after 6 years. [4 marks]
19. A van is bought for £26,000. In year 1, it depreciates at 22%. From year 2 onwards, it depreciates at 12% per year. Use A = P(1 − r/100)^n to find the value after 4 years in total. Give your answer to the nearest pound. [4 marks]
20. Two savings accounts are offered. Account P: £10,000 at 4% compound interest for 5 years. Account Q: £10,000 at 5.5% simple interest for 5 years. Find the difference in the final amounts and explain which account gives the greater return. Use A = P(1 + r/100)^n for Account P. [4 marks]
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