Simple Interest

Simple Interest

Assessment

Flashcard

Mathematics

7th - 8th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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34 questions

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1.

FLASHCARD QUESTION

Front

Starting money = $350.
Interest rate = 2.5%
Time = 3 years.
How much interest?

Back

$26.25

2.

FLASHCARD QUESTION

Front

Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?

Back

$1392

3.

FLASHCARD QUESTION

Front

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

Back

$1,200

4.

FLASHCARD QUESTION

Front

The principle in the simple interest formula I=Prt

Media Image

Back

the amount of money borrowed or deposited

5.

FLASHCARD QUESTION

Front

Convert the rate given as a percent (%) to a ______ before using it in the simple interest formula.

Media Image

Back

decimal

6.

FLASHCARD QUESTION

Front

Javon has a credit card with a $1,583 balance and an interest rate of 8.8%. How much interest does he owe after 3 years if he does not make any payments?

Media Image

Back

$417.91

7.

FLASHCARD QUESTION

Front

You borrowed 43,800 at a SIMPLE interest rate of 4.8%. If you pay it back in 2 years, how much interest is paid back?

Back

$4204.8

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