Simple Interest
Flashcard
•
Mathematics
•
8th Grade
•
Practice Problem
•
Hard
Standards-aligned
Wayground Content
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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 = P * R * T.
Tags
CCSS.7.RP.A.3
2.
FLASHCARD QUESTION
Front
What does the variable 'P' represent in the formula I = P * R * T?
Back
'P' represents the Principal amount, which is the initial sum of money borrowed or invested.
Tags
CCSS.6.EE.B.7
3.
FLASHCARD QUESTION
Front
What does the variable 'R' represent in the formula I = P * R * T?
Back
'R' represents the Rate of interest, expressed as a decimal.
Tags
CCSS.6.EE.B.7
4.
FLASHCARD QUESTION
Front
What does the variable 'T' represent in the formula I = P * R * T?
Back
'T' represents the Time the money is borrowed or invested, usually expressed in years.
Tags
CCSS.6.EE.B.7
5.
FLASHCARD QUESTION
Front
Calculate the simple interest for a principal of $6,000 at an interest rate of 5% for 6 months.
Back
$150
Tags
CCSS.7.RP.A.3
6.
FLASHCARD QUESTION
Front
Convert the decimal 0.37 to a percent.
Back
37%.
7.
FLASHCARD QUESTION
Front
Calculate the simple interest for $250 at 6.5% for 3 years.
Back
$48.75.
Tags
CCSS.7.RP.A.3
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