Simple Interest

Simple Interest

Assessment

Flashcard

Mathematics

9th - 12th Grade

Practice Problem

Hard

CCSS
7.RP.A.3, 6.EE.B.7, 6.EE.B.6

+2

Standards-aligned

Created by

Wayground Content

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

What does the variable 't' represent in the simple interest formula I = Prt?

Back

Time, in years.

Tags

CCSS.6.EE.B.7

2.

FLASHCARD QUESTION

Front

Before using the rate in the simple interest formula, you must convert it to a ______.

Back

decimal.

Tags

CCSS.7.RP.A.3

3.

FLASHCARD QUESTION

Front

What is the formula to calculate the balance (or final amount)?

Back

Balance = Principal + Interest.

Tags

CCSS.7.RP.A.3

4.

FLASHCARD QUESTION

Front

Principal and Interest are always ___________.

Back

money.

Tags

CCSS.7.RP.A.3

5.

FLASHCARD QUESTION

Front

What does 'P' represent in the simple interest formula I = Prt?

Back

The amount of money borrowed or deposited.

Tags

CCSS.6.EE.B.7

6.

FLASHCARD QUESTION

Front

What is the formula for calculating simple interest?

Back

I = Prt.

Tags

CCSS.6.EE.B.6

7.

FLASHCARD QUESTION

Front

If you have a principal of $1000, a rate of 5%, and a time of 3 years, what is the simple interest?

Back

I = 1000 * 0.05 * 3 = $150.

Tags

CCSS.7.RP.A.3

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