Simple Interest

Simple Interest

Assessment

Flashcard

Mathematics

7th Grade

Practice Problem

Hard

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

+3

Standards-aligned

Created by

Wayground Content

FREE Resource

Student preview

quiz-placeholder

15 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is Simple Interest?

Back

Simple Interest is the interest calculated on the principal amount only, without compounding.

Tags

CCSS.7.RP.A.3

2.

FLASHCARD QUESTION

Front

What is the formula for calculating Simple Interest?

Back

The formula is I = P * r * t, where I is the interest, P is the principal, r is the rate of interest per year, and t is the time in years.

Tags

CCSS.7.RP.A.3

3.

FLASHCARD QUESTION

Front

What does 'P' represent in the Simple Interest formula?

Back

P represents the principal, which is the initial amount of money borrowed or deposited.

Tags

CCSS.6.EE.B.7

4.

FLASHCARD QUESTION

Front

If you invest $1000 at a 5% simple interest rate for 2 years, how much interest will you earn?

Back

You will earn $100 in interest.

Tags

CCSS.7.RP.A.3

5.

FLASHCARD QUESTION

Front

How do you calculate the total amount after interest is added?

Back

Total Amount = Principal + Interest.

Tags

CCSS.7.RP.A.3

6.

FLASHCARD QUESTION

Front

What is the interest earned on a $2000 investment at 3% simple interest for 4 years?

Back

The interest earned is $240.

Tags

CCSS.7.RP.A.3

7.

FLASHCARD QUESTION

Front

If Store A sells a TV for $500 with 8% interest for 2 years, what is the total cost?

Back

Total cost = $500 + ($500 * 0.08 * 2) = $580.

Tags

CCSS.6.RP.A.3C

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?