Simple Interest

Simple Interest

7th Grade

5 Qs

quiz-placeholder

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Simple Interest

Simple Interest

Assessment

Quiz

7th Grade

Hard

Created by

Janice Aronovitz

Used 1+ times

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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 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

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The simple interest formula is I=PRT.

I is the interest earned or paid.

P is the principal.

R is the rate as a decimal.


What does the t represent?

Principle

Interest

Time

Percent Rate

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Ann puts $300 in a bank account earning 4% (0.04) interest. How much will she earn in interest in 1 year?

4

8

12

16

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Principal = $800

Interest Rate = 3.5% (0.035)

Time = 6 months

Find the interest earned.

14

140

168

16.80

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Starting money = $350.

Interest rate = 2.5% (0.025)

TIme = 3 years.

How much interest?

$7.50

$26.25

$87.5

$262.50