GCSE Secondary Maths Age 13-17 - Ratio, Proportion & Rates of Change: Compound Interest - Explained

The video tutorial covers compound interest and reverse percentage calculations. It begins with a compound interest example involving a two-year savings account with different interest rates each year. The tutorial then shifts to reverse percentages, using examples of train ticket costs and weekly pay increases. The instructor emphasizes the importance of understanding these concepts for exams and provides detailed calculations and comparisons to aid comprehension.

What is the initial amount KT invests in the savings account?

• £100

• £200

• £250

• £150

What is the interest rate for the first year in KT's savings account?

• 1.5%

• 4.0%

• 3.3%

• 2.5%

How much does KT have at the end of the first year?

• £206.60

• £207.50

• £205.00

• £208.00

What is the concept of reverse percentages used for in the video?

• Calculating simple interest

• Calculating the percentage of a given number

• Finding the original amount before a percentage increase

• Determining the future value of an investment

What was the original price of the train ticket before the increase?

• £190

• £200

• £180

• £210

What was Katie's original weekly pay before the increase?

• £500

• £510

• £520

• £530

How much did Katie's weekly pay increase by?

• £25.00

• £30.00

• £20.50

• £25.50

What is the increase in the cost of Katie's train ticket?

• £27

• £25

• £22

• £20

Which increase was greater, Katie's pay or her train ticket cost?

• Cannot be determined

• Train ticket cost increase

• Pay increase

• Both were equal

Why is understanding reverse percentages important in exams?

• They are only for advanced students

• They can significantly impact grades

• They are straightforward

• They are rarely tested