Simple and Compound Interest
7th - 8th Grade
•15 Qs
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Simple and Compound Interest
Quiz
•
Mathematics
•
7th - 8th Grade
•
Hard
+11
Standards-aligned
Marcus Washington
Used 3+ times
FREE Resource
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15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
When calculating
interest, how do you write the percent?
a fraction
a decimal
a round number
not enough information
Tags
CCSS.7.EE.B.3
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
David
invests $10,000 in a savings account that pays 3.5% simple interest. If David
makes no withdrawals or deposits to the account, how much will be in the
account after 7 years.
$2,450
$11,750
$12,450
Not here
Tags
CCSS.HSF.BF.A.2
3.
MULTIPLE CHOICE QUESTION
5 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
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The simple interest formula is I=Prt. What does the t represent?
Principle
Interest
Time
Percent Rate
Tags
CCSS.8.EE.C.7B
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Principal = $800
Interest Rate = 3.5%
Time = 6 months
Find the interest earned.
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
the time has to be in _____________
years
months
days
seconds
Tags
CCSS.7.EE.A.2
CCSS.HSA.SSE.A.2
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Joe went to the store to buy a car, he needed to buy a car to get to work, the car cost 19,000$. Joe needs to Borrow 19,000$ in order to get a car, to get to work. He gets a loan at 3% interest rate for 5 years with simple interest, what is the Principle?
2,850$
21,850$
19,000$
38,000$
Tags
CCSS.7.RP.A.3
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