Simple Interest
Assessment
•
Jacqueline Bado
•
Mathematics
•
7th Grade
•
1 plays
•
Medium
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15 questions
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1.
Multiple Choice
The rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a______.
fraction
decimal
ratio
dollar amount
2.
Multiple Choice
The simple interest formula is I=Prt. The P represents the principal. The principal is ___________________.
the amount of money
the percent interest for his year
the rate
the percent proportion
3.
Multiple Choice
Alexton the Skeleton borrowed $4,000 for 5 years at 6% simple interest rate to pay for his band equipment. How much interest is that?
$800
$1,000
$1,200
$1,500
4.
Multiple Choice
Interest rate = 2.5%
TIme = 3 years.
How much interest?
$7.50
$26.25
$87.5
$262.50
5.
Multiple Choice
Principle
Interest
Time, in hours
Time, in years
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