Simple & Compound Interest

Simple & Compound Interest

7th - 12th Grade

25 Qs

quiz-placeholder

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Simple & Compound Interest

Simple & Compound Interest

Assessment

Quiz

Mathematics

7th - 12th Grade

Easy

CCSS
7.RP.A.3, HSA.CED.A.1, 5.NBT.A.3

+14

Standards-aligned

Created by

Lindsey Borcherding

Used 8+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The rate is given as a percent (%).  Before using it in the simple interest formula, you must first convert it to a______.

fraction
decimal
ratio
dollar amount

Tags

CCSS.7.RP.A.3

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

$7.50
$26.25
$87.5
$262.50

Tags

CCSS.7.RP.A.3

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

$800
$1,000
$1,200
$1,500

Tags

CCSS.7.RP.A.3

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Ann puts $300 in a bank account earning 4% interest.  How much will she earn in interest in 1 year?

4
8
12
16

Tags

CCSS.6.RP.A.3C

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Principal = $800
Interest Rate = 3.5%
Time = 6 months
Find the interest earned.

14
140
168
16.80

Tags

CCSS.7.RP.A.3

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?

$120
$144
$1,200
$1,440

Tags

CCSS.7.RP.A.3

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The simple interest formula is I=Prt.  The P represents the principle.  The principle is ___________________.  

the amount of money borrowed or deposited
the percent interest for his year
the amount taxed
the amount the bank owes you for being a customer at their bank

Tags

CCSS.8.EE.C.7B

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