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Maths•Financial Maths & Money Sense

Simple Interest, Discounts & Commission

Junior High 8 questions
AI-drafted from platform data — specialist review scheduledBy DigiTransact Mastermind editorial teamLast updated
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What simple interest, discounts & commission means

You learn how to work out money changes in daily life, such as interest earned, a lower sale price, or profit on goods. These calculations help you judge savings, buying, and selling more carefully.

What you will practise

  • Find simple interest from a principal, rate, and time
  • Work out the final price after a discount
  • Calculate commission from a percentage of sales
  • Find profit and percentage profit from buying and selling prices

Before you start

You should be comfortable with fractions, percentages, and multiplication. You also need to understand how to read money values correctly.

Worked example

One question from this skill's own question bank, shown with its full working.

Question

Ama deposits GH₵2,000 at 5% simple interest per year. How much interest does she earn in 3 years?

  • GH₵100
  • GH₵300
  • GH₵500
  • GH₵600
Answer: GH₵300

Working: Simple interest = PRT/100 = 2000 × 5 × 3 ÷ 100 = GH₵300.

Common mistakes to avoid

  • Using the discount rate on the wrong amount instead of the original price.
  • Finding profit by subtracting the selling price from the buying price.
  • Forgetting to divide by 100 when using percentage formulas.
  • Mixing up simple interest with compound interest in word problems.

Curriculum and exam alignment

Ghana GES Basic 7 to 9 syllabusBECE

This topic normally appears in Junior High School work on percentages and everyday money calculations. It is useful preparation for BECE-style questions that test practical arithmetic with money.

Curriculum notes are a general guide to where this work normally sits. Always check the syllabus your school or examination body is currently using.

Related skills

Other Financial Maths & Money Sense skills in Maths, at the same point in the course.

Other Maths topics

Counting with PicturesPicture Addition & SubtractionEarly NumeracyNumber BasicsSHS Core MathematicsUniversity Mathematics

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Exams that assess simple interest, discounts & commission

Junior High work on this skill feeds directly into these exam papers. Each page lists the Maths topics that appear on it.

BECEBECE practice questionsFree BECE practice across the subjects at this stage, with worked answers.GESGES practice questionsFree GES practice across the subjects at this stage, with worked answers.WASSCEWASSCE practice questionsListed as a related subject on the WASSCE practice page.

How this page was produced

This text was drafted with AI assistance from the questions and topics already stored on the platform. A subject-specialist review is scheduled but has not yet been recorded, so we do not claim it here.

Written by
DigiTransact Mastermind editorial team
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Practise simple interest, discounts & commission

8 questions with a worked answer after every attempt, and a SmartScore that tracks how close you are to mastery.

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