Mathematics GCSE
simple interest
What simple interest means in Mathematics GCSE, as defined for Pearson Edexcel.
Definition of simple interest
Check what you remember
Read the wording for your board, then hide it and explain simple interest in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
Interest that adds the same amount each year, so £500 at 4% for 3 years earns £500 × 0.04 × 3 = £60.
Topics that use simple interest
- Ratio, proportion and rates of change (Pearson Edexcel GCSE)
Related terms
- Acceleration
- Applications of ratio in context
- area and volume units
- Asymptote
- average rate of change
- Average speed
- Chord
- comparing quantities
Using simple interest in the exam
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