Simple Interest
Flashcard
•
Mathematics
•
9th - 12th Grade
•
Hard
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.
2.
FLASHCARD QUESTION
Front
What is the formula for Simple Interest?
Back
The formula for Simple Interest is I = Prt, where I is the interest, P is the principal, r is the rate of interest, and t is the time.
3.
FLASHCARD QUESTION
Front
What does 'P' represent in the Simple Interest formula?
Back
'P' represents the principal amount, which is the initial amount of money borrowed or deposited.
4.
FLASHCARD QUESTION
Front
What does 'r' represent in the Simple Interest formula?
Back
'r' represents the rate of interest, expressed as a decimal.
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, typically measured in years.
6.
FLASHCARD QUESTION
Front
How do you convert a percentage to a decimal?
Back
To convert a percentage to a decimal, divide the percentage by 100.
7.
FLASHCARD QUESTION
Front
If the interest rate is 4%, what is it as a decimal?
Back
0.04
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