Simple Interest 8.12D

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

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

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.HSF.BF.A.2

Julie borrowed $3,500 for 3 years at 7.5% simple interest rate. 
How much interest is that?

• $3500
• $787.50
• $810
• $812.50

Tags

CCSS.7.RP.A.3

Write the percent as a fraction in simplest form. 
16%

• .16
• 16/100
• 4/25
• 2/50

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.7.RP.A.3

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

• 14
• 140
• 168
• 16.80

Tags

CCSS.7.RP.A.3

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

• $120
• $144
• $1,200
• $1,440

Tags

CCSS.7.RP.A.3

Emilio borrows $1200 from a bank with 8% simple interest per year. How much TOTAL will he have to pay back total in 2 years?

• $150

• $192

• $1350

• $1392

The simple interest formula is I=Prt.  What does the t represent?

• Principle
• Interest
• Time, in hours
• Time, in years

Tags

CCSS.7.RP.A.3