Simple Interest

State the alternative name for original principal

• Amount invested

• Maturity value

• Accumulated amount

• Simple amount

T is time in days

• True

• False

What is simple interest value?

• Amount borrowed

• Original amount

• Money that earned when it were invested

• Charge incurred when a loan/credit is obtained

Simple interest is the interest..

• That calculated based on the total amount of loan

• That calculated based on the interest gained in the account

• That calculated based on the original principal

• That calculated based on the formula

RM 5000 is deposited in a bank paying 11.5% simple interest per annum. How much interest will have been paid after 4 years 6 months?

• RM2547.50

• RM2857. 50

• RM2587. 50

• RM2537. 50

The Malays Bank charges a simple interest of 18% per year for short term loans. If a loan of RM22000 was charged RM9900 as interest, how long was the term of the loan?

• 1 year

• 1 year 6 months

• 2 year

• 2 year 6 months

5 years ago, Nayla invested RM6600 in a bank at a simple interest rate of 7.2%. Find the amount in the account today.

• RM9876

• RM9976

• RM8996

• RM8976

Hafni borrows RM7000 for 100 days at 6% per annum simple interest. What is the amount at the end of 100 days?

• RM5032. 41

• RM7032. 41

• RM7032.40

• RM5032. 40

Ms. Hannan deposited RM4000 in TRee Bank and obtained simple interest of RM300 after 3 years. What was the simple interest rate offered?

• 2.5%

• 3.5%

• 4.5%

• 5.5%

Abam invested RM6600 in a bank at a simple interest rate of 7.2%. Find the numbers of years required if Abam wanted the amount in the account to become RM8500.80

• 1 year

• 2 years

• 3 years

• 4 years