Simple Interest Review
Flashcard
•
Mathematics
•
7th Grade
•
Practice Problem
•
Hard
+1
Standards-aligned
Wayground Content
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Student preview
15 questions
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1.
FLASHCARD QUESTION
Front
What is simple interest?
Back
Simple interest is the interest calculated on the principal amount only, without compounding. It is calculated using the formula I = Prt, where I is the interest, P is the principal, r is the rate of interest, and t is the time in years.
Tags
CCSS.7.RP.A.3
2.
FLASHCARD QUESTION
Front
What is the formula for calculating simple interest?
Back
The formula for calculating simple interest is I = Prt.
Tags
CCSS.7.RP.A.3
3.
FLASHCARD QUESTION
Front
If you invest $1000 at a 5% interest rate for 3 years, what is the simple interest earned?
Back
The simple interest earned is $150.
Tags
CCSS.7.RP.A.3
4.
FLASHCARD QUESTION
Front
What does 'P' represent in the formula I = Prt?
Back
'P' represents the principal amount, which is the initial amount of money invested or borrowed.
Tags
CCSS.6.EE.B.7
5.
FLASHCARD QUESTION
Front
What does 'r' represent in the formula I = Prt?
Back
'r' represents the rate of interest, expressed as a decimal.
6.
FLASHCARD QUESTION
Front
What does 't' represent in the formula I = Prt?
Back
't' represents the time the money is invested or borrowed, measured in years.
Tags
CCSS.8.EE.C.7B
7.
FLASHCARD QUESTION
Front
Convert 12 months into years.
Back
12 months is equal to 1 year.
Tags
CCSS.4.MD.A.1
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