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Year 8 Number and algebra WA8MNAF1 5 pages · 34 questions Core
Year 8 Interest, Fees and Penalties Worksheet
Free Year 8 interest and fees worksheet (WA8MNAF1): credit card interest, late fees, BNPL penalties and simple interest loans. With marking key.
What's covered
- Calculating interest on unpaid credit card balances
- Adding late and missed-payment fees
- Comparing the total cost of borrowing options
About this worksheet
This free Year 8 interest, fees and penalties worksheet is written for the Western Australian curriculum and mapped to SCSA content description WA8MNAF1. It targets one skill so students can practise until it sticks: by the end, students can say “I can calculate interest on unpaid credit card balances, late and missed-payment fees, and compare the total cost of borrowing.”
What’s inside
- Key idea box – a short explanation with worked examples to read before starting.
- A · Fluency (16 questions) – quick practice to build accuracy.
- B · Core (10 questions) – worded problems set in everyday Australian contexts.
- C · Reasoning (4 questions) – explain, justify and spot the error.
- D · Challenge (4 questions) – harder multi-step and problem-solving questions for students ready to stretch.
- Separate marking key – every answer with working, plus mark allocations and marking criteria for reasoning questions.
Skills covered
- Calculating interest on unpaid credit card balances
- Adding late and missed-payment fees
- Comparing the total cost of borrowing options
How to use this worksheet
Start with the Key idea box, then complete Section A (use a calculator only where a question says so). Most students should attempt Sections B and C; Section D suits students aiming for the top of the class or preparing for accelerated or extension maths. The worksheet is marked out of 58, and the score box on the last page helps students see which section needs more practice.
Common mistakes to watch for
- Applying an annual rate as a monthly rate
- Forgetting establishment or monthly fees
- Thinking the minimum payment clears the debt
- Missing the back-dated interest on interest-free deals
Where this fits in the WA Year 8 sequence
Interest, Fees and Penalties sits in the Financial mathematics sub-strand of Number and algebra. It is one of a set of short, single-skill EduLift worksheets that split each Year 8 content description into sub-skills. Use the previous and next links to work through the sequence in order.
Common errors we see in tutoring
- Applying an annual rate as a monthly rate
- Forgetting establishment or monthly fees
- Thinking the minimum payment clears the debt
- Missing the back-dated interest on interest-free deals
Answer key (with worked solutions)
The answer key is a separate PDF with every question worked, not just the final answers.
Download the answer key (PDF)Stuck on a section? That's what our Year 8 tutors are for.
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