Simple interest

Simple interest

7th - 11th Grade

20 Qs

quiz-placeholder

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Simple interest

Simple interest

Assessment

Quiz

Mathematics

7th - 11th Grade

Practice Problem

Medium

CCSS
7.RP.A.3, 8.EE.C.7B, HSA.CED.A.1

+6

Standards-aligned

Created by

Joann Backus

Used 5K+ times

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20 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

1 min • 1 pt

Media Image

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

3.

MULTIPLE CHOICE QUESTION

1 min • 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

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

the amount of money borrowed or deposited in a savings account

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

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Julie borrowed $3,500 for 3 years at 7½% simple interest rate. 
How much interest is that?

Julie borrowed $3,500 for 3 years at 7½% simple interest rate. 
How much interest is that?
$787.50
$810
$812.50

Tags

CCSS.7.RP.A.3

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If you are calculating the simple interest and you are given the time in months, how can you find the time in years?

Add 12 to the months
divide the months by 12
multiply 12 times the months
You cannot change it to months.

Tags

CCSS.7.RP.A.3

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

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