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level: Percentage

Questions and Answers List

Question	Answer
The words ‘per cent’ simply mean:	Out of every 100
A way of expressing a relationship between two or more numbers, which enables us to make comparisons between them	Ratios
The cost of money as a result of inflation	Interest
Money paid for the use of borrowed money. It is paid by the borrower to compensate the lender for not having possession of that money	Simple Interest
The interest falling due at the end of each year is not paid over to the lender. The sum is added to the amount of the original loan and interest for the following year is calculated on the new total	Compound Interest
Means that there are 2 periods in one year and the interest rate given as a percentage per year will be divided by 2	Semi-Annual
4 periods in one year and the interest rate given as a percentage per year will be divided by 4	Quarterly