OCR GCSE Mathematics · J560
Specification 5.03a · Paper 1 (Foundation), Paper 2 (Foundation), Paper 3 (Foundation), Paper 4 (Higher), Paper 5 (Higher), Paper 6 (Higher)
Revise: Simple InterestFor example, an interest rate of 4% per annum means 4% for each year. The abbreviation p.a. means per annum, or “per year”.