Simple Interest

Simple Interest

7th Grade

10 Qs

quiz-placeholder

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Simple Interest

Simple Interest

Assessment

Quiz

Mathematics

7th Grade

Practice Problem

Hard

CCSS
7.RP.A.3, HSF.BF.A.2, 7.EE.B.3

+1

Standards-aligned

Created by

Ashley Goldman

Used 56+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.

$160

$800

$80,000

$16

Tags

CCSS.HSF.BF.A.2

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Find the simple interest earned when the principal is $500 at a rate of 10% held in the bank for 8 months.

$33.33

$550

$50

$400

Tags

CCSS.7.RP.A.3

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Find the simple interest paid on a loan of $750 with an 18% rate over 2 years.

$135

$13,500

$270

$27,000

Tags

CCSS.HSF.BF.A.2

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

After 12 years, a deposit of $10,000 into your college account has earned $6,000 in interest payments. What simple interest rate did the account earn?

50%

5%

500%

7.5%

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.2

CCSS.7.RP.A.3

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Kermit took out a 4 year loan for $5,500. He had to pay a total of $1,870 in interest payments. What rate did he pay for his loan?

85%

5.5%

8.5%

14%

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.2

CCSS.7.RP.A.3

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

How much interest would you earn if you deposited $575 for 3 months at 2.88% simple interest?

$4.14

$4,968

About $400

$1,725

Tags

CCSS.HSF.BF.A.2

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

$150
$192
$1350
$1392

Tags

CCSS.7.RP.A.3

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