Practice — what type is this question? (Finance Growth Decay)

Read each question and decide what type it is before revealing the answer.

Grade 10Paper 1Level 2 — Routine Procedures

An advertisement offers: "Buy a Samsung J5 for only R229 per month. You have 24 months to pay. No deposit is required." 7.2 The monthly instalment, quoted in the advertisement, is calculated on a hire purchase agreement which charges interest of 7,5% p.a. on the cash price of the cellphone. Show that the price of the cellphone is R4 779,13.

Source: DBE Mathematics Paper 1, Grade 10, November 2018, Question 7.2

Grade 10Paper 1Level 2 — Routine Procedures

A car bought for R180 000 depreciates at 12% per annum on a straight-line basis. Calculate the value of the car after 4 years.

Practice question — not sourced from a past paper.