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hey guys just before we get into the
lesson I just want to let you know that
you can catch these Live on YouTube uh
every Tuesday from 6 p.m until 7 P.M in
the UK time and that means you can be
more interactive you can ask your
questions and they'll be answered okay
so without further Ado let's get into
the lesson
okay welcome back to the sixth GCSE uh
maths lesson that we're going to be
doing so as per request we're going to
start doing interest and depreciation
which are very very tightly knit
um topics okay so it's essentially the
exact same equation in both senses so we
should probably talk about interest and
depreciation to start with so I think
the easier one to start off with is
going to definitely be interest so when
we talk about interest we have two types
of Interest we have compound interest
and we also have something called simple
interest
and
honestly it can be a bit tricky
to kind of wrap your head around these
two
so with compound interest
uh actually let's start with simple
interest
with simple interest
the amount of money that you gain stays
the same each and every year okay so we
should also mention that interest
generally refers to
bank accounts
or some kind of investment okay
so that's where you'll see the words
interest okay you also see interest on
loans and things like that but for the
purposes of kind of GCSE maths it's
normally bank account so it's saving
interest so like two percent interest
per year or whatever
or that they invest it in some kind of
savings account or
stocks or whatever it is okay so
essentially interest is the amount of
money so if we were to just quickly
write this interest is
money gained
per year
okay
so that's all it is in a nutshell now
there's two types of interest you have
compounding you have simple interest
with simple interest
the amount
is fixed
okay
so for example if I invested one
thousand pounds
and there's two percent simple interest
then what I do to work out how much I
get per year is I just work out two
percent
of a thousand
so one percent you divided by one
hundred so that'd be ten so it's two
times ten is twenty pounds so every
single year you get 20 pounds into your
bank account or portfolio or whatever
you want to call it okay
20 pounds every year
so after 10 years so
all you do is you do 10 times 20 equals
200
you've gained 200 pounds
perfect so in total you just have 1200
pounds
it's called Simple because it doesn't
change okay once you know how much you
get per year that amount is fixed
compound interest is a bit more
interesting
that was an accidental plan I promise
the amount you get changes every single
year okay so to explain this so first
off
the amount changes
okay so let's say once again use the
exact same example we have a thousand
pounds
and we have two percent interest
now these numbers are going to get very
ugly very quickly okay
after the first year it's the exact same
thing right so two percent is equal to
20 pounds right you work it out the same
way so after one year
you have
1020 pounds now to work out how much you
get for the next year is you need to
work out two percent
of 1020.
okay
so that would be 20 pounds and 40 Pence
and then you add that on so in the
second year
you now have 1040.40
and then to work out for the third year
you do the same thing you take 20 sorry
2 of 1040 pounds and forty pounds and
add that on and so on
so the amount you get increases every
single year
okay
that's pretty tricky to to kind of work
out right you don't like if I asked you
okay after 10 years how much do I have
you don't want to do this 10 times it
would be here forever so thankfully
there is actually an equation we can use
to work it out okay now if something
increases by
two percent it's now at
102 percent
of the original value
right because 100 is its normal value
so if I've increased it by two percent
it's now at 102 of its original value so
the what I can do to work out the amount
that we have
and let's say it's after 10 years we
take our original investment of a
thousand pounds
times it by now two percent would be a
hundred and two percent which as a
decimal is 1.02 so you put 1.02 to the
power of the number of years
okay so if you want an actual equation
for this you have final
equals initial
so final amount of money equals the
initial amount of money times the
percentage
to the power of the number
of years
okay
so Evie does that make sense
it's very tricky to get to wrap your
head around but once we do some
questions I promise it'll be a lot
easier but this is why compound interest
can be a bit tricky okay
but why hope you take from this is this
part here
if something increases by two percent
it's at 102 of its original value
the increases by 10 it's at 110 and so
on right you're just passing a minus
thing from 100
okay
are we all okay with that so far
once you do some questions I promise it
would be a lot easier although I think
the first question on this is a bit
tricky
let's get started
Okay cool so
we have Jesse invests 8 000 pounds for n
years so some number of years in a
savings account
to find the value V of her investment
after n years uses the formula V equals
8 000 times 1.025 n now if you remember
my equation that I uh wrote just now it
was amount
equals
well done perfect EV well done so
initial times 1.02
it wasn't 1.025 I got confused there
but even you're 100 correct
to the power of the number of years
right
that looks exactly like her formula
but 8 000 pounds is the initial so
they've just replaced initial with eight
thousand pounds
good so the initial amounts eight
thousand pounds the percentage is 1.025
and as Evie said that means the interest
is 2.5
all we look at
is the bit after the one
0.025 as a percentage is two and a half
percent
perfect
okay
find the total amount of Interest okay
so the actual value right using V is
going to be eight thousand
Times by 1.025
it says in three years so my number of
years
is three
okay so we're going to do here is I've
got my calculator here
we have eight thousand times
1.025
to the power of 3.
now this is what her investment is worth
after three years
exponentials
um as in e to the power
of something
so i e is the power of 2x or whatever
not in this lesson if so
and the final value of the investment is
8615
0.13 so you might notice it says one two
five but with money we always round to
two decimal places right you don't have
0.5 of a penny
okay
so this is kind of like that Eevee right
because I can write this
as eight thousand one point zero two
five to the power of three so it is very
similar to a times B to the power of x
but
it's similar it's this is more like an
introduction to it
but I will cover it a bit later
okay but this is actually an exponential
equation like you just said so well done
yeah I will this is an exponential
equation in and of itself
right but are you talking about like
drawing them and things like that
or just in general
yeah
now if we look at the original question
it says the amount of interest earned
so then yes I will eventually so to work
out the amount of Interest all we do is
we subtract the initial investment so
the actual amount of Interest so far
interest
is 615 pounds
13 Pence
well done Lila exactly right okay
exactly right
so not bad three marks I think that's
pretty good you can do it all on a
calculator fairly
quickly fairly easily
so we have Perry again so invest 25 000
pounds three years 2.7 compound interest
so again if we use that equation the
final amount
will be the initial investment
of 25 000 pounds again we're just using
the equation I used here initial it is
25 000.
times
now the percentage as a decimal
right
it's 2.7 interest so it's going up to
102
.7
so to work it out all we need to do is
divide that by 100 which hopefully you
can see would be 1.027
right
if you're not sure this will only come
up on a calculator paper by the way
so with compound interest it has to be a
calculator paper so don't worry if
you're unsure then three years is to the
power of the number of years and that's
it
so once again
whip out the calculator
by changing just from left to right we
have 2.7
we have 25 one two three
and again rounded to two decimal places
so I'll add that just for a second
just to show you what I got on the
calculator
start to two decimal places
but again if it's asking specifically
for the amount of interest you subtract
the initial investment okay
so we're going to take away so for the
actual interest
what we're effectively doing is 27
080.17 minus the initial amount if they
ask you what the final value is
this would be our answer but if they ask
us for the interest we have to subtract
25 000 so that should be 2080 pounds and
17 pens
okay
again three marks I think that's pretty
quick it's not bad right
not too bad
in my opinion anyway
leave that there for a second
perfect again just make sure you stop me
the second you find something you're a
bit stuck on
okay
good
so this gets a bit trickier
but I'm going to show you two ways to do
it
faster and easier okay
um but I'm going to show you a really
long way first okay
and then I'm going to show you two ways
that I'll make it you can do it in one
line okay
but I need to show you it a long tedious
way first okay but if you're ever unsure
do it the really long way so we have a
house for 350 000 pounds
okay
first year it increased by three percent
then it decree then increases by two
percent again in the second year then it
decreases by five percent when something
depreciates it means it loses value
so in this case you can think of it as
the opposite
to interest
okay
but depreciate in general means to lose
value so in this case it's the opposite
to increased okay so in terms of instead
of it being interested to depreciation
okay
work out the value of the house at the
end of three years so the first way I'm
going to show you which is the longest
way is to just work out how much it
changes by each year
so if I write this out as first year
we have a 350 000 pound house
and it increases by three percent so
that's the same as it being a hundred
and three percent of its initial value
right
so I'm going to times it by that as a
decimal which is 1.03
so again while I type it in if you're
unsure please do just stop me
350 one two three multiplied by 1.03
you get 360 500 pounds
stuff
360 500.
now the second year this is where things
get a bit more interesting
the house price increased by two percent
so we're going to times it by you know
it's 102 right that's all good
so 1.02 but keep in mind it's increased
from this value not the 350 000.
so it's increased Again by two percent
so instead of 350 000 I have 360 500
Times by 1.02
right so the the house increased by
three percent up to that level then
increased by two percent
so it's two it's increased by two
percent from that value not the original
one
okay
so again what we can do is we do 360
000
500
uh hang on a minute I wrote that
incorrectly there we are 360. oh my
goodness 360 500.
multiplied by 1.02
so 367 710 at 10 pounds
okay so again I'm showing you this long
way and I know that it's um
it's long but trust me there's a reason
why I'm making you do it the Long Way
first okay
so again if it's it's now depreciated by
five percent right it's gone down by
five percent
now
there are actually two ways to do this
as well funnily enough
but if it's decreased by five percent
can you see that it would now be a 95 of
its original value
right so when it increased by three
percent
good perfect EV well done
oh Lila as well perfect yeah so 100 if
it increased by three percent it goes to
103 if it decreases it goes down right
0.95 so I'm going to Times by 0.95
which is a number less than one which
means the number should decrease okay
I'm going to show you
so three six seven seven one zero
and we get
349 324 pounds and 50 pence
okay so that's our answer that's three
marks okay bear in mind this is three
marks so three steps makes sense I'm
gonna show you a new way
right
so it was kind of tedious when we had to
keep rewriting the number right
here's a tip we can use the answer
button the ANS button here and it saves
whatever our last answer was
okay
so what I can do now is I could do 350
000
times 1.03 if I started from the
beginning
equals
then I just press times again and it
gives me answer times or I can just do
answer times the next one 1.02 equals
then I press times again 0.95
equals and I get the same answer
all I'm doing is pressing times again
and again and again
right so the second method is using the
answer button
and all it saves you doing is writing
out the same thing again and again
so we're all okay with the second method
so Lila Evie is that all okay with the
second method
oh Evie that is exactly what the last
method is this is the fastest method
perfect
so either you just said the perfect
thing if we're just timesing
three things in a line
what I can do is exactly like Evie just
said so I can do 350 000 whoops
the first year I Times by 1.03
the second year I Times by 1.02 the
third year Times by 0.95 that will get
me the exact same answer
by doing it all in one line exactly as
Evie just said
okay so really well done good job of
explaining that
so Times by 1.03 Times by 1.02 Times by
0.95
and we get the exact same answer
and I've done it in one line
really well done well spotted
and that is the fastest method and the
one that I use
okay I had to show you the long method
so you could see that the bottom method
works if I just wrote the last line it
might have confused some people okay
but I'm hoping that makes sense
I'm really impressed by the way well
done
really well done
is anyone unsure of this third method
because it's what I'm going to be using
from now on
because it does it in one step which
gives you three marks
so you can do it in about 20 seconds 25
seconds
give me a few seconds
perfect
really well done okay so
here's a more standard question okay you
can definitely see something like this
coming up in the non-calculator oh sorry
the calculator paper
so again we have Leanne invests 2 500
pounds for four years three percent
compound interest so I'm going to write
out the equation again but you probably
don't need it right the final amount
is the initial
multiplied by the interest
to the power of the number of years
so in this case we want the final amount
the initial is 2500
the interest
is three percent uh I actually don't
know the answer Lyla I will definitely
check it though this is 1.03
gives a three percent increase
and it's four years
so if I sub all of that in
let's see what we get 2500 Times by
1.03
to the power of 4.
2813.77 well done Lila perfect
and that's two marks
not too bad not too bad at all
okay
so again this is going to be fairly
repetitive so I want to test you guys
right
so again we have
9500
Times by the percentage increase 1.018
let's have five
it's just a couple of questions that
might be a bit repetitive
just to make sure you're 100 okay
uh just a piece of advice just in
general with GCSE maths is whilst you're
doing it in a lesson it's very easy to
say okay I get it that's good but you
will forget it over time so make sure
you're kind of keeping consistent with
doing questions outside of the lessons
or just going over your notes 386.34
okay
not bad right
perfect
okay I'm really impressed that you guys
are managing this
so
for this question
you can do it I'm going to show you the
really shortcut way
actually I'm going to show you the
slightly longer way right
so
we have a very similar question
to the previous question where I showed
you the shortcut
okay but instead it's depreciation
so if it depreciates by 30 percent
that's the same as being 70 of its value
so 0.7 decreases by 14 that would be 86
which is
0.86 so if we did this all in one line
you have 18
000
multiplied by one year of decreasing by
30 percent
multiplied
by 0.86 and how many years does it
decrease by 14 was the second and third
year so it'll be two years
and in total we have three years done
is anyone unsure of that
so again I've done it in the shortcut
method that I showed you earlier so if
it doesn't make sense now would be the
perfect time for you to let me know and
we can go over the shortcut way of again
wait so Evie is that you don't
understand or is it okay
it's okay cool perfect
so again hopefully you can see how like
powerful that method is
it's a three mark question which
normally means you need like three lines
of
working out and you need to do all this
other stuff you can do it in one step
so it's a really good way to save time
in the exam so you can use it for the
harder questions
at least that's the idea
okay
so that everyone's okay with that
interest can be a tricky topic
so really well done if you're
understanding it but again keep up with
it
okay
so we've practiced that a bit now here
the next two questions
involve something that's slightly
different okay
so we have Nick bought a new car it
doesn't tell us the value
each year it depreciates by 12 percent
work out the number of years it takes
for the car to half in value
so give me a second just to
at that
ah Lila impressive okay
I'll show you a trick on that
once again I'm going to show you two
methods okay but this is one example of
trial
and Improvement which is something
that's in every single spec so Edexcel
AQA cie doesn't matter what you're doing
trial and Improvement is a key thing
that they test across all boards okay
and this is an example of it really well
done Lila in short you start counting
from the first equals okay so 12
depreciates so that would be 0.88 right
now
each time we apply this so after the
first year
it's gone to 0.88 of its initial value
the second year
the way I work out what percentage it's
going to be is I do 0.88
squared
because it's 88 of 88 percent
and that gives me to 0.77 okay
so I need to keep going
through to half in value it needs to go
down to 0.5
okay
third year
I'm doing 0.88 cubed
0.68 and again if you want you can
actually jump right so I could go
straight to year five and see what it
looks like
but just for demonstration I'm going to
keep going until I get below 0.5
that doesn't count as 0.59 so zero point
and Dot
I expect this one to be the correct one
oh no nevermind there's another one
three
keep going okay so this is a fairly
tedious method right
0.46
so in short it takes six years because
that is the first year that it's below
0.5
so are you guys okay with that
okay I'm going to show you a slightly
easier method it's easier on thumbs
so you'd have to write it all out every
time
is that okay yeah perfect okay now
here's my shortcut super easy method and
once again as always it uses the answer
button
okay
0.88 so after the first year how much
what's the percentage I press equals
it's 0.88
okay that's one year
okay so if you want you can keep a tally
but I'm going to keep my thumbs up
instead right
the next year I'm just taking that
original amount and timesing by 0.88
what's that gonna give me
the second year and if you notice it's
the same
the next year is going to be again 88 so
I press equals three times
four times five times
six times
that's it you just count the number of
times you press equal so it's the ANS
button
and you just count the number of equal
time uh count the times
you
press
equals
are you guys okay with that method and
it hopefully the reason why I wrote all
of this out is that you could keep track
that it does actually work
okay now every year it matched up
perfectly
yeah perfect and Lila did that answer
your question about when you start
counting you count from literally the
first one when you save it as the answer
button
perfect that's exactly what I like to
hear
okay
next question is very similar once again
it's trial and Improvement so trial
an improvement and once again
there are multiple methods on doing this
okay in the same vein as above there's a
longer way and there's a shorter way and
once again I'm going to start with the
longer way because then you appreciate
the short way okay
uh I'm not sure how to pronounce his
name actually I think it's fion
but I'm not 100 sure invest 5 600 pounds
in a savings account and she gets two
percent per annum so per year
compound interest after n years
she has 6061 pounds and 62 pence in her
account work at the value of n
cool so first year
she's going to have
5600 Times by 1.02
we all agreed
so five seven one two
now because it's compound interest
we now take that new amount
all right so five seven one two and
Times by 1.02 again
you can also do the thing where you
square it and then Cube it and then to
power four right like increase the power
that also works so if instead of
changing this first number you just put
a power here that will give you the same
answer okay
you get five eight two six
point two four
three years
again I take that value there's a reason
why I'm doing it this way though because
I want you to see
that we can just use the answer button
okay
5924
sorry four two even
I'm really hoping it's the next one I'm
I'm actually 100 sure it's the next one
five nine four two point
there we go
to your right so take so n
4
. now once again
right and you could have done this with
powers by the way so you could have done
for the second year you could have done
this right
to the power of 2 equals see what that
equals change it to a three and if you
can see it's giving me the exact same
answer right
I actually wrote down the wrong amount
but yeah it gives me the same answer
so what you can do again
is do five thousand six hundred times by
1.02 that gives me the first year
then if you just press times
1.02 that gives me the second year
third year fourth year I get my answer
that easy
you can save a lot of time doing it that
way
okay and once again you can also count
from the first
equal sign right
are you are you all okay with that
whoops
I'm good
you don't so your math teacher's
slightly incorrect right so you actually
don't need method marks so what I might
do right is I could have gone straight
from the first year and guessed the
third year
and then went to the fourth year
right
that is fine okay because it's trial and
Improvement
so you don't need to write the third
year by all you could have gone from one
to two and then straight down to four
okay you don't need to do it
I guarantee it
so you don't need to write all of them
down I'm writing all of them down just
so you can see that the quick method
works the same as the um slow method it
gives you the same results each time I
don't want you to just believe me I want
to show you
okay
give me a few more seconds for any other
questions
we don't have many more questions
because this is a fairly short topic
but the last thing is you always have
again this is across every single exam
board is you have something called Best
Buy
where basically you need to compare two
things and see which one's better value
for money so it could also be value for
money is what it could be called
okay which is useful in real life okay
really useful in real life
okay and you need to compare
which one will give you
the best value right so how much money
you get so I want to change something in
this question instead of some money
just for demonstration can I change this
to
two thousand pounds
and I'm going to do this question again
but without money
okay
I hope that that isn't
complicated
just for now I want to show you an
example with money specifically okay
so as you're going to invest 2 000
pounds for five years she can either
choose investment a
or investment
B
yeah
investment a is 2.7 compound interest
investment B is 2.8 simple interest
so compound interest we're experts at
that now let's just work this out you
would have two thousand pounds
times
1.027 and I'll put a bracket
to power five right
so let's do that we have two thousand
multiplied whoops sorry I pressed X
instead of times
1.027 to the power of 5 right
and let me just double check that yeah
that's good two two eight four point
nine eight
so just so you know
the best value for money in this case is
whichever one has the most amount of
money after five years
okay
now I would like to point out that
compound interest is better when you
have bigger sums of money okay I've
chosen a very small amount of money
for their system to be clear 2.8 simple
interest so the way I work this out is I
work out what 2.8 percent
of 2000 is
right best way to do that is you take
that as a percentage uh sorry a decimal
and times it by two thousand
right
I'm hoping it's not too bad of a number
I don't think it will be
56 that's a really easy number
so we haven't done simple interest
a hundred thousand percent it will
definitely it has to
um
this is this is a bit Advanced but just
who knows compound interest
right if it's a lower rate is worse in
the short term better in the long term
okay
so at the beginning obviously after the
first year because the interest rate is
lower you have less money but it builds
up over time
you won't need to do either it gives us
five years okay and it will always give
you a time frame
okay
so all you need to do is work out after
five years how much money would be in
the account if you did with compound
interest and how much would it be with
simple interest okay
whichever number is bigger that's the
one you go with
but very good questions okay
if you're talking about for you
personally what would be better then you
talk about long-term short term and
things like that but in exam questions
they give you a time frame okay
really good question though
so with simple interest we said at the
beginning of the lesson that the amount
doesn't change so what I'm effectively
doing is I'm taking my two thousand
pounds and I'm adding 56 for every year
that I'm investing so it's five years
I'm adding 56 five times
what whoops
now that is incredibly tedious so
instead of adding I don't know why I
wrote twenty thousand sorry
instead of adding five times what you
can do is do five times 56.
and those two things are equal to each
other
okay
hopefully that should make sense but
again if you're not sure please let me
know
we get 2 280.
uh yeah perfect
okay
generally speaking compound interest is
better
but only if the interest rate itself is
is comparable if it's similar
okay
so which one's better value for money or
in this case which one's better which
investment should Alice choose it's
investment a
so the way I like to do it is I always
imagine myself in this situation would I
rather have 2284 pounds and 98 Pence or
just 2280 but obviously more money right
four marks so quite a lot
but it's not that bad
but are you guys okay with that
perfect
hopefully yeah hopefully I've explained
it well that's good
and
this is where it gets interesting okay
so this is also something they like to
do so they're both compound interest so
Matt wants to invest eight grand for
three years there's two Banks
but the interest rate is fixed for Bank
a which is 1.2 every year but for Bank B
it's higher in the first year lower in
the next two
so which bank will give Matt the most
interest so once again I'm going to
split my
thing in half and this is exactly what I
recommend you do in the exam
and work out the difference right so
again Bank A's easy I don't doubt that
you guys can do this right take the 8
000 pounds
times it by the percentage increase so
it's 1.012 to the power of the number of
years which is three let's do this nice
and quick
and again round it to two decimal places
so we get
eight two nine one point four seven
okay
now we're going to use EV suggestion for
this next one right we're going to chain
it along
so we have the 8 000 pounds
and for the first oh god I've got eighty
thousand eight thousand pounds
for the first year the interest is 1.02
then it goes down to 1.01
for every additional year how many years
do we have left we're doing it for three
years one year is two percent so we have
two more years left
okay
so what I'm going to do is
7.02
wait you don't technically need the
brackets to be honest
1.01 and then make that to the power
two
eight three two four point zero two
so which bank should he go with
or which bank it has the most interest
when it's Bank B
again that's four marks
so your papers
for most exam boards are out of 80. so
that's 4 out of 80 you get for this
and we did it in two lines of on our
calculator
four marks
so these These are really good questions
to kind of Master
and I'm hoping that you guys are
actually getting pretty comfortable with
it already but please keep up with it
okay you have to keep doing questions
every now and then because it's very
easy to make mistakes especially when
you do things like chaining this along
okay
any questions about that
think it's all okay
wonderful
okay
again
great to hear it again this is a very
similar question to what we've just done
very very similar okay so Melvin invest
five grand two and a half percent every
year
and Charlie invest 4500 paying three
percent every year
work out the difference in money
it's the same thing but imagine this is
Bank a bank B that's the only difference
right they've just changed it to people
so we do Melvin
we only need a bit of space and Charlie
so let's work out the difference right
it's not not too tricky so Melvin he has
five thousand pounds
the interest rate is 1.025 number of
years is five years
there we go
same as what we've done before okay
five one two three times by
e
five six five seven point zero four
and with Charlie
it's four thousand five hundred but it's
a higher interest rate so let's see if
it's any better
so what I'm going to do is just edit my
equation again using the arrow keys
just so I don't have to do the same
thing over and over again
five two one six
so it seems like Melvin was better so he
invested more money to begin with
with a lower interest rate but seems
like he's made it out on top but the
question actually actually says work out
the difference in money
so we need to do now is do
five six five seven point zero four
subtract five two one six
0.73
let's do it
so five six five seven point zero four
subtract five two one six point
seven three
three that's it
440 pounds and 31 Pence
and that's four marks again look how
quickly we get this done
four marks should be roughly four
minutes and yet we've only written this
much and look how much space they gave
you too
really useful questions to kind of smash
out
I'll leave that on the board just for
two more seconds
it's a really good question Lila um more
than likely it would just be one
question in your calculator paper
so I'll be paper two if you're doing Ed
Excel paper five if you're doing AQA and
so on
but normally it's only one question
so I have a few more kind of basically
what I've done is I've actually gotten
questions from every single exam board
okay
so
this first one is Edexcel
okay the next one so for some reason the
labeling actually
got a bit weird
and I've written where I've gotten the
question from so this is Edexcel paper
to 2020 higher there's one for AQA and
OCR as well just to show you that it's
literally every exam board okay
so for this question the car is bought
for 1 500 pounds but depreciates in
value eight percent so in other words
0.92 because it's at 92 percent of its
value every year
how much is it worth after two years
well one thousand five hundred
Times by 0.92
how many years two years
okay so the questions are all very
similar always
one two six nine point
six
and it says what is the total
depreciation after two years so this
number as a percentage
so to change anything into a percentage
what we're going to do is take the new
value
which is this
divided by the original value
Times by 100
that's it
to change anything into a percentage you
take the current value divided by the
old value
Times by 100.
and then Times by 100
and you get
84.64 percent
not bad
and that's the actual question from
Edexcel
next I believe is OCR and then AQA is
the last one we'll do
give you a few more seconds to ask any
questions you might have
cool the next one again the labeling did
get messed up this is OCR whoops
come on be faster
OCR November 2019 right
perfect
Joan invests six thousand pounds in a
savings account
the savings account pays a compound
interest at a rate of 2.4 for the first
year 1.7 for each extra year work out
the value of Jones Investment at the end
of three years the reason why it says
Part B is because part A was unrelated
so I I cut it out okay but if you go to
OCR 2019 November you'll find this exact
question okay
um so again this is the exact same thing
we've just been doing right
we take our six thousand pounds
the first year is 2.4 so that's 1.024
we do one more question after this and
then we're done okay unless you guys
have any questions and we'll continue
for a bit then 1.07 uh zero one seven
at the end of three years
okay
so
the wording of this question is a bit
interesting
because that that is valid right why
don't we take it from 100 right
so this is the actual value of the car
expressed as a percentage of the
original value
so what line is saying which is a
hundred percent valid why don't we do
this
so you do 100
minus the answer
15.36 and this is actually my bad
I didn't mention this
in the mark scheme
because the question is a bit vague they
do actually reward marks for both of
these
okay
it's yeah so as a percentage so the way
I interpreted it and the way Lila
interpreted it was slightly different
but both are actually correct okay
I've expressed the new value as a
percentage of the original value
which
is kind of what the question's saying
but Lila's pointed out that the actual
depreciation would be a hundred minus
that
that also works so both of these are
correct even though they're different
answers which might seem a bit scary and
weird but both of those are actually
correct
okay but yeah very good point
and
this value would be squared
because
you you have this interest rate for two
years
okay so one year of 1.024
and then you have two years of 1.017
so six three five four point six seven
all good and again it's the same thing
we've been doing this is completely
Universal it's for all exam boards
the last question is from AQA again
apologies for this being a bit wonky
and again just in the interest of time
it's a very similar question right
you're working out the compound interest
so hopefully you can see that it is the
same no matter what exam board you're
doing it can be a bit tricky of course
but it is all the same kind of stuff
okay
is any of that confusing
okay that's good
perfect
let's hear it are there any questions
about that
so I know that um
I think it was you Evie that asked about
the kind of exponential equations
hopefully you can see that these do take
on the form of exponential equations
but can I ask kind of what
um what style of question we resist the
thing you're talking about or is there a
different style of question you wanted
to go through because there is quite a
bit on exponential equations
and again we will cover it over the
coming time using the graphs okay
what I'll do is I'll note that down as
something that you want to go over and
I'll try and Slot it into one of the
future lessons
okay
The Substitute values yeah
no worries so modeling with exponentials
basically I will try and Slot that in
okay
um
a bit later
if there are no questions about this
then we'll call it
equation of circle oh yeah 100 that's
coming up too
we're going to cover all of the GCSE
spec okay but yeah absolutely
and
yeah so if that's all okay then
we can
probably call it quits there