Interest Has Two Faces
Two cards each start at €100 for a year at 10% — the saver receives €10, the borrower pays €10. Same rate, opposite result.
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In the year workbook
My Money YearThis lesson has a companion in the printable year workbook: pupil pp. 105–106, teacher companion p. 87.
Learning objectives
- Work out €10 of interest and the €110 closing balance on the saver card
- Work out the €10 interest and €110 total repayment on the borrower card
- Say who receives interest and who pays it, and to whom
Vocabulary
- Interest
- Extra money added for saving, or charged for borrowing.
- Rate
- How fast interest is added, shown as a percentage.
- Borrow
- To use money now that you must pay back later.
- Repay
- To pay back money you borrowed.
- Savings
- Money you have kept safe instead of spending it.
Materials
Minute-by-minute flow
7′
Hook
Teacher does
Read the story: two fictional cards each start at €100 for one year at a stated 10% — on S a saver receives interest, on B a borrower pays it. Ask what is known and what to find out.
Students do
Name the amount, the rate and the two roles.
12′
Model
Teacher does
Think aloud through task 1: on S, how much interest is added and what is the closing balance? (10% of €100 = €10, so €110).
Students do
Shade ten squares on a hundred grid to show €10, then read €110.
20′
Practise
Teacher does
Set task 2: on B, how much interest is paid and what is the total repayment? (€10 paid, €110 repaid).
Students do
Calculate the €10 cost and the €110 total repayment.
15′
Discuss
Teacher does
Set task 3 and the misconception: the saver receives interest from the account provider; the borrower pays the lender — and the stated 10% is only a one-year classroom assumption, not a guaranteed offer.
Students do
Complete who pays whom and note the rate is not a real offer.
6′
Exit
Teacher does
Pose the reflection: why must you read whether a card is about saving or borrowing?
Students do
Explain the same percentage can be money received or an extra cost.
Check for understanding
Can the learner show €10 interest and a €110 result on both cards, and say the saver receives while the borrower pays?
Exit ticket
Fill in: at 10% on €100 the saver ends with €__; the borrower repays €__ — same rate, opposite effect.
Support
Shade ten squares on a hundred grid.
Stretch
Compare €20 at 10%: €2 interest, with the same saver/borrower distinction.
Home connection
Find one advert or app that mentions interest and say whether it is interest you would receive (saving) or pay (borrowing).