The figures are invented. (i) A bank charges a nominal interest rate of 6.5% on business loans. The inflation rate is 2.3%. Calculate the real interest rate. [2] (ii) In another country the consumer price index rises from 200 to 215 over a year, and savings accounts pay a nominal interest rate of 3%. Calculate the real interest rate on savings. [2]

Paper 2-style short part (standalone practice; not an IB question).