Simple Interest
Flashcard
•
Mathematics
•
7th - 8th Grade
•
Practice Problem
•
Hard
+1
Standards-aligned
Wayground Content
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Student preview
14 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
What does 'P' represent in the Simple Interest formula?
Back
'P' represents the Principal amount, which is the initial sum of money borrowed or invested.
Tags
CCSS.8.EE.C.7B
4.
FLASHCARD QUESTION
Front
What does 'r' represent in the Simple Interest formula?
Back
'r' represents the rate of interest, usually expressed as a percentage.
5.
FLASHCARD QUESTION
Front
What does 't' represent in the Simple Interest formula?
Back
't' represents the time period for which the money is borrowed or invested, measured in years.
Tags
CCSS.6.EE.B.7
6.
FLASHCARD QUESTION
Front
Convert 4.3% to a decimal.
Back
0.043
7.
FLASHCARD QUESTION
Front
If Emilio borrows $1200 at 8% simple interest for 2 years, how much interest will he pay?
Back
$192
Tags
CCSS.7.RP.A.3
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