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![]() Curriculum materials for students, schools and colleges created by MathsNet in partnership with AngliaCampus. |
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Further info Tech |
C1. Ratio & proportion : repeated proportional change.
When a value is increased by a percentage, it is often easiest to calculate the change using multipliers. For example a percentage increase of 3% can be found by multiplying the original amount by 1.03 An example £1000 is kept in the bank for 10 years. The rate of interest remains fixed throughout at 5%. Find the amount of money in the bank at the end of 10 years. Solution A rate of 5% is equivalent to a multiplier of 1.05. The amount of money after 10 years is found by calculating: 1000 × 1.0510=£1629 (to the nearest £). |
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