# Mathematics Worksheet/Social Arithmetic/Bank interests

From Wikibooks, open books for an open world

**1.** If $100 is deposited at 4% in the Octopus Bank on 27th April, how much will be in the account 6 months later on the 27th October? How much will be in the account after 1 year?

**2.** The Kaching Credit Union offers a deposit account at 7% Per Annum for 2 years. Calculate using simple interest how much the return would be for 1 year? If $1200 is deposited for 2 years, how much interest will it earn?