Students learn about calculating a simple interest in financial mathematics. Learning progresses from calculating a simple interest to finding the principal amount, duration, and interest rate when the simple interest is known.At the start of the lesson students recap calculating equivalent fractions, mixed numbers, decimals and percentages as this is required for the remainder of the lesson. In the plenary students are challenged to compare the different interest rates and duration of two competing banks.

Differentiated Learning Objectives

• All students should be able to calculate a simple interest for 1 year.
• Most students should be able to calculate a simple interest paid over time.
• Some students should be able to work out the rate of simple interest.

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Calculations with Percentages

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