Can you finish interest evolution race in about 25 min?
You will children learn the concept of compound interest by simulating bank savings growth over time.
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Children learn the concept of compound interest by simulating bank savings growth over time. This activity transforms abstract financial principles into tangible visual results, helping them understand how money can grow in a fun, engaging way.
Using a visual approach through a race format applies Bruner's CPA (Concrete-Pictorial-Abstract) method, allowing children to first engage with real objects, then see their growth visually, and finally understand the underlying mathematical principles of interest calculation.
1. Gather 10 coins (₹1 or ₹2) and a jar (savings bank). 2. Set a timer for 5 minutes — this is your 'first year'. 3. Place all your coins in the jar and observe how much you have. 4. Every minute, add an additional ₹1 to the jar as 'interest'. 5. At the end, count the total amount in the jar — that's your 'savings'! 6. Discuss how much more you would have if you kept adding interest every year.