Year 10 - Compound interest - Free practice
Year 10 Compound Interest Worksheets
Growth, decay, compound interest in applied contexts.
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10 questions — 4 Foundation, 4 Standard, 2 Extension — with full worked solutions, calibrated to the Victorian Curriculum.
About this worksheet
Why we built it
Year 10 financial maths jumps from simple to compound interest, and adds general growth/decay scenarios. These worksheets give your student practice across each variation - calculating final value, finding the principal, finding time.
What's covered
Sub-skills your student will practise
- ✓Calculating compound interest using A = P(1 + r)^n
- ✓Finding the principal given the final amount
- ✓Comparing simple vs compound interest
- ✓Population growth and depreciation problems
- ✓Different compounding frequencies (annual, quarterly, monthly)
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Frequently asked
Questions parents ask about compound interest
What's the compound interest formula?
A = P(1 + r)^n, where A is the final amount, P is the principal, r is the rate per period (as a decimal), and n is the number of periods. For monthly compounding over a year at 12%, r = 0.01 and n = 12.
How does compound interest differ from simple interest?
Simple interest pays the same dollar amount each year (based on the original principal). Compound interest pays interest on the principal plus accumulated interest, so the dollar amounts grow each year.
What's compounding frequency?
How often interest is added to the balance. Annual (once a year), semi-annual (twice), quarterly (four times), monthly (twelve), daily (365). More frequent compounding gives a higher final amount for the same nominal rate.
Is the formula the same for depreciation?
Almost - depreciation uses A = P(1 - r)^n, with a minus instead of a plus. A car worth $30,000 depreciating 15% per year for 4 years: A = 30000 x (0.85)^4 = $15,660.
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