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Simple Interest Formula

Authored by Etienne Marcoux

Mathematics

Professional Development

CCSS covered

Used 57+ times

Simple Interest Formula
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10 questions

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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

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

4
8
12
16

Tags

CCSS.6.RP.A.3C

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the "I" in the interest formula stand for?

Principal
Interest
Rate
Time

Tags

CCSS.7.RP.A.3

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

John put 14,000 Euros in an account at a simple interest rate of 1% per year.  How much interest will he get after 12 years?

16,800 Euros
168,000 Euros
1,680 Euros

Tags

CCSS.HSF.BF.A.2

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Maria borrowed $3,000 at a simple interest rate of 4% per year.  How much did she have to repay after 4 years?

$480
$3,480
$4,800
$7,800

Tags

CCSS.7.RP.A.3

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the "r" in the interest formula stand for?

Principal
Interest
rate
time

Tags

CCSS.7.RP.A.3

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Anna invested $2,500 at an annual rate of 5%.  How long will it take until Anna earns $1,125 in interest?

5 years
8 years
10 years
9 years

Tags

CCSS.6.EE.B.7

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