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Simple and Compound interest

Authored by Ridhi Dargan

Mathematics

5th - 10th Grade

CCSS covered

Used 332+ times

Simple and Compound interest
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11 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Change 6.75% to a decimal.

67.5
.675
675
.0675

Tags

CCSS.7.RP.A.3

CCSS.7.NS.A.2

2.

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.7.RP.A.3

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the correct definition of interest?

money paid to you by a bank for the money you have in a bank account
put into a bank account
to borrow something

4.

MULTIPLE CHOICE QUESTION

30 sec • 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

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

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

$150
$192
$1350
$1392

Tags

CCSS.HSF.BF.A.2

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

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

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