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

The video tutorial explains how to calculate the monthly installment Sean needs to pay for a loan of £720 with a 15% interest rate. It covers calculating the interest, adding it to the principal to find the total repayment, and dividing this amount by 12 to determine the monthly payment. The tutorial provides a step-by-step breakdown of the calculations, ensuring clarity and understanding.

What is the principal amount Sean needs for his holiday?

• £720

• £820

• £620

• £920

How is the 15% interest on the loan calculated?

• By adding 10% and 5% of the principal

• By multiplying the principal by 0.15

• By dividing the principal by 15

• By subtracting 5% from 10% of the principal

What is the total interest amount Sean has to pay?

• £180

• £72

• £108

• £36

What is the total repayment amount including interest?

• £828

• £720

• £936

• £648

How much does Sean pay each month?

• £75

• £60

• £72

• £69