Simple Interest

Simple Interest

8th Grade

11 Qs

quiz-placeholder

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Simple Interest

Simple Interest

Assessment

Quiz

Mathematics

8th Grade

Easy

CCSS
7.RP.A.3, 6.RP.A.3C, 7.EE.B.4A

+1

Standards-aligned

Created by

Joshua Eaton

Used 1+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 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

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Media Image

You lend $240 to your friend.  He pays you back $270.  What interest rate did you charge your friend?

88%
20%
12.5%
10%

Tags

CCSS.6.RP.A.3C

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time. What rate of interest did she pay?

6%
6%
8%
9%

Tags

CCSS.7.RP.A.3

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Find the ending balance:
$35,600 at 9% for 2 years

$42,296.39
$42,002.27
$42,008.00
$38,804.00

Tags

CCSS.7.RP.A.3

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Find time time (in years):
Principal: $3,750
Interest: $427.50
Interest Rate: 3.8%

3 years
2.3 years
0.3 years
30 years

Tags

CCSS.7.RP.A.3

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What is the interest rate if the principal is $32,000 and $9600 over six years. 

50%
0.5%
5%
0.05%

Tags

CCSS.7.EE.B.4A

7.

MULTIPLE CHOICE QUESTION

15 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
the amount the bank owes you for being a customer at their bank

Tags

CCSS.7.RP.A.3

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