Grade 11 Maths · Paper 1

Financial Maths Grade 11

Real past paper questions and answers from 2023 to 2025, with each memo split into the ticks examiners give. Try one, mark yourself, and see exactly which skill cost you marks.

past paper questions: 23 past paper questions
skills: 5 skills
videos: 5 videos

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Question 7.1 · May/June 2025 · Paper 1 · National (DBE) · 2 marks

7.1 John invests an amount of money in an account paying interest at a rate of

15%

p.a., compounded monthly. Calculate the annual effective interest rate of this investment.(2)

Work it out on paper first. Then mark yourself with the official memo, one tick at a time.

What's in Financial Maths Grade 11

Each skill is one thing a memo gives a tick for. Tap a skill for its own questions, notes and videos.

Simple and Compound Growth and Decay17 past paper questions

The Effects of Different Compounding Periods13 past paper questions

Time Lines8 past paper questions

Use the compound interest formulaUse the compound interest formula A = P(1 + i)ⁿ, where interest also earns interest, for example R1 000 at 10% for 2 years grows to R1 210.15 past paper questions · 4 videos

More Financial Maths Grade 11 questions and answers

Try each one on paper before you open the memo.

1. Question 8.2.1 · November 2024 · Paper 1 · Provincial · 4 marks
8.2 Koza deposits R15 000 into a bank account for a period of 10 years. The interest rate for the first four years is 6% per annum compounded monthly. For the next six years, the interest rate changes to 10% per annum compounded semi-annually.

Answer the questions that follow.
8.2.1 Convert the nominal rates to annual effective rates. (Answers correct to FOUR decimal places)(4)
Show the memo (4 ticks)Memo
1. ✓
  Formula with values (6% monthly) $i_{e ff} = (1 + \frac{0 , 06}{12})^{12} - 1$
  1 mark · Convert nominal and effective rates
2. ✓
  $6, 1678%$ $= 6, 1678%$
  1 mark · Convert nominal and effective rates
3. ✓
  Formula with values (10% semi-annually) $i_{e ff} = (1 + \frac{0 , 1}{2})^{2} - 1$
  1 mark · Convert nominal and effective rates
4. ✓
  $10, 25%$ $= 10, 25%$
  1 mark · Convert nominal and effective rates
2. Question WE15 · Siyavula Grade 11 Mathematics, 9.4 Nominal and effective interest rates, Worked example 15 · 3 marks
WE15 Interest on a credit card is quoted as $23%$ p.a. compounded monthly. What is the effective annual interest rate? Give your answer correct to two decimal places.(3)
Show the memo (3 ticks)Memo
1. ✓
  FormulaInterest is added monthly: $m = 12$ ; $i^{(12)} = 0, 23$
  $1 + i = (1 + \frac{i ^{(m)}}{m})^{m}$
  1 mark · Convert nominal and effective rates
2. ✓
  Substitution $1 + i = (1 + \frac{0 , 23}{12})^{12}$
  1 mark · Convert nominal and effective rates
3. ✓
  Answer $∴ i = (1 + \frac{0 , 23}{12})^{12} - 1 = 25, 59%$
  The effective interest rate is $25, 59%$ per annum.
  1 mark · Convert nominal and effective rates
3. Question WE4 · Siyavula Grade 11 Mathematics, 9.2 Simple and compound depreciation, Worked example 4 · 3 marks
WE4 A car is valued at R240 000. If it depreciates at $15%$ p.a. using straight-line depreciation, calculate the value of the car after $5$ years.(3)
Show the memo (3 ticks)Memo
1. ✓
  Formula $P = 240000$ ; $i = 0, 15$ ; $n = 5$
  $A = P (1 - in)$
  1 mark · Calculate depreciation
2. ✓
  Substitution $A = 240000 (1 - 0, 15 \times 5)$
  1 mark · Calculate depreciation
3. ✓
  Answer $A = 240000 (0, 25) = 60000$
  At the end of $5$ years, the car is worth R60 000.
  1 mark · Calculate depreciation
4. Question WE16 · Siyavula Grade 11 Mathematics, 9.4 Nominal and effective interest rates, Worked example 16 · 3 marks
WE16 Determine the nominal interest rate compounded quarterly if the effective interest rate is $9%$ per annum (correct to two decimal places).(3)
Show the memo (3 ticks)Memo
1. ✓
  FormulaInterest is added quarterly: $m = 4$ ; $i = 0, 09$
  $1 + i = (1 + \frac{i ^{(m)}}{m})^{m}$
  1 mark · Convert nominal and effective rates
2. ✓
  Substitution $1 + 0, 09 = (1 + \frac{i ^{(4)}}{4})^{4}$
  1 mark · Convert nominal and effective rates
3. ✓
  Answer $4 1, 09 = 1 + \frac{i ^{(4)}}{4}$
  $4 (4 1, 09 - 1) = i^{(4)}$
  $∴ i^{(4)} = 8, 71%$
  The nominal interest rate is $8, 71%$ p.a. compounded quarterly.
  1 mark · Convert nominal and effective rates
5. Question WE7 · Siyavula Grade 11 Mathematics, 9.2 Simple and compound depreciation, Worked example 7 · 3 marks
WE7 The number of pelicans at the Berg river mouth is decreasing at a compound rate of $12%$ p.a. If there are currently $3200$ pelicans in the wetlands of the Berg river mouth, what will the population be in $5$ years?(3)
Show the memo (3 ticks)Memo
1. ✓
  Formula $P = 3200$ ; $i = 0, 12$ ; $n = 5$
  $A = P (1 - i)^{n}$
  1 mark · Calculate depreciation
2. ✓
  Substitution $A = 3200 (1 - 0, 12)^{5} = 3200 (0, 88)^{5}$
  1 mark · Calculate depreciation
3. ✓
  Answer $A = 1688, 7421 \dots$
  In $5$ years, the pelican population will be approximately $1689$ .
  1 mark · Calculate depreciation

Financial Maths Grade 11 videos

Short lessons from South African teachers first. Videos load only when you tap play, to save your data.

Financial Maths Grade 10 | Simple Interest IntroductionKevinmathscience

Financial Maths Grade 10 | Compound Interest | IntroductionKevinmathscience

Financial maths grade 11 | DepreciationKevinmathscience

Compounding monthly grade 11 | Financial MathsKevinmathscience

Financial Maths Grade 11 | Effective to NominalKevinmathscience

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