Simple Interest & Compound Interest Calculation

Simple Interest & Compound Interest Calculation

Assessment

Flashcard

Other

University

Practice Problem

Hard

Created by

Nur Rashid

FREE Resource

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12 questions

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1.

FLASHCARD QUESTION

Front

You deposit RM1,000 at 6% simple interest for 3 years.

What is the principal amount deposited?

Back

RM1,000

2.

FLASHCARD QUESTION

Front

What formula is used to calculate simple interest?

Back

Simple Interest = Principal x Rate x Time

3.

FLASHCARD QUESTION

Front

You deposit RM1,000 at 6% simple interest for 3 years.

How much interest is earned after 3 years?

Back

RM180

4.

FLASHCARD QUESTION

Front

You deposit RM1,000 at 6% simple interest for 3 years.

How much total money after 3 years?

Back

RM1,180

5.

FLASHCARD QUESTION

Front

A loan of RM5,000 is given at 6% simple interest per year for 4 years.

What is the total interest?

Back

SI=P × r × t

RM 1,200

6.

FLASHCARD QUESTION

Front

You invest RM2,400 for 9 months at 10% simple interest per year.

How much interest is earned?

How much total investment after 9 months?

Back

SI=P × r × t

RM 180

Total = RM 2,580

7.

FLASHCARD QUESTION

Front

If you borrow RM12,000 and agree to pay RM14,400 after 3 years, what annual simple interest rate are you paying?

Back

SI=14,400−12,000=2,400

SI= P × r × t

r = SI / Pt

r = 2,400 / 12,000 x 3

r = 6.67%

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