10SL. AI. TEST P2. 1.4 to 1.

8 [33 marks]
NAME: _____________________________________________ DATE: ____________________

1a. [3 marks]. In this question give all answers correct to two decimal places.
Diogo deposited 8000 Argentine pesos, ARS, in a bank account which pays a nominal
annual interest rate of 15%, compounded monthly.
Find how much interest Diogo has earned after 2 years.

1b. [3 marks].
Carmen also deposited ARS in a bank account. Her account pays a nominal annual interest
rate of 17%, compounded yearly. After three years, the total amount in Carmen’s
account is 10 000 ARS.
Find the amount that Carmen deposited in the bank account.


2a. [3 marks].
Give your answers to parts (b), (c) and (d) to the nearest whole number.
Harinder has 14 000 US Dollars (USD) to invest for a period of five years. He has two
options of how to invest the money.
Option A: Invest the full amount, in USD, in a fixed deposit account in an American bank.
The account pays a nominal annual interest rate of r % , compounded yearly, for the five
years. The bank manager says that this will give Harinder a return of 17 500 USD.
Calculate the value of r.

2b. [2 marks].
Option B: Invest the full amount, in Indian Rupees (INR), in a fixed deposit account in an
Indian bank. The money must be converted from USD to INR before it is invested.
The exchange rate is 1 USD = 66.91 INR.
Calculate 14 000 USD in INR.


2c. [3 marks]
The account in the Indian bank pays a nominal annual interest rate of 5.2 % compounded
monthly.
Calculate the amount of this investment, in INR, in this account after five years.

2d. [3 marks]
Harinder chose option B. At the end of five years, Harinder converted this investment back
to USD. The exchange rate, at that time, was 1 USD = 67.16 INR.
Calculate how much more money, in USD, Harinder earned by choosing option B instead of
option A.

3. [4 marks]. Boxes of mixed fruit are on sale at a local supermarket.
Box A contains 2 bananas, 3 kiwifruit and 4 melons, and costs $6.58.
Box B contains 5 bananas, 2 kiwifruit and 8 melons and costs $12.32.
Box C contains 5 bananas and 4 kiwifruit and costs $3.00.
Find the cost of each type of fruit.

4. [1 mark]. Find the real roots of −𝑥 . + 2𝑥 0 − 3𝑥 − 4 = 0, correctly rounded to three
significant figures.

6;
45 678 9:
5. [2 marks]. The expression 5 6<;8 <=
can be written in the form 𝑥 > 𝑦 @ , where 𝑎 and 𝑏 are
integers. Find the sum of 𝑎 and 𝑏.

6. [4 marks]. Given that.
¨ 10> = 92
¨ ln 𝑏 = 5
¨ 𝑐 = ln 11 − ln 0.002
¨ 𝑒 .JK = 1234
Place 𝑎, 𝑏, 𝑐 𝑎𝑛𝑑 𝑑 in ascending order, show the values.

7. [5 marks].

Rebecca takes out a $225000 mortgage in order to buy her first house. If the term of the loan
is 25 years with a 3.75% annual interest and monthly payments, what is the total amount that she
will pay in interest over the life of the loan? Give your answer correctly rounded to three
significant figures.