Mathematics GCSE
Simple interest in financial mathematics
What Simple interest in financial mathematics means in Mathematics GCSE, as defined for AQA.
Definition of Simple interest in financial mathematics
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Reference: AQA
Calculated on the original amount only, using interest = principal × rate × time, and is common in financial mathematics.
Topics that use Simple interest in financial mathematics
- Ratio, proportion and rates of change (AQA GCSE)
Related terms
- Algebraic rearrangement of compound-unit formulae
- Checking the reasonableness
- Chord versus tangent
- Comparing quantities of the same kind
- compound interest
- Compound Measure
- compound unit
- constant of proportionality
Using Simple interest in financial mathematics in the exam
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