Percent Equation and Simple Interest Review

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

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.7.RP.A.3

What does the "I" in the interest formula stand for?

• Important
• Interest
• Internet
• Igloo

Tags

CCSS.HSF.BF.A.2

Calculate the interest. I = PRT,

Principal = $1000,

Rate = 6%,

Time = 2 years

• $100

• $120

• $180

• 1200

Tags

CCSS.7.RP.A.3

Beyonce went to the mall and saw a massage chair that she would have to take a loan out for $6500 to purchase.  The bank said that she could get a simple interest rate of 8% for 5 years.  What is the total amount that Beyonce will pay for the chair?

• $2600
• $910
• $9100
• $260

Tags

CCSS.HSF.BF.A.2

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

Determine if you are finding the part, percent, or whole.  
18 is what percent of 36?

• Part
• Percent
• Whole

Tags

CCSS.7.RP.A.3

CCSS.7.RP.A.2

Determine if you are finding the part, percent, or whole.  
What is 20% of 60?

• Part
• Percent
• Whole

Tags

CCSS.6.RP.A.3C

Solve.
54 is what percent of 90? 

• 16
• 1.6
• .6
• 60

Tags

CCSS.7.RP.A.3

CCSS.7.RP.A.2

Solve.  
What percent of 72 is 18?

• .25
• 4
• 40
• 25

Tags

CCSS.7.RP.A.3

CCSS.7.RP.A.2