Simple Interest
Authored by WILLIAMS JANITA
Mathematics
11th Grade
CCSS covered
Used 24+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Ben deposit $ 6500 in a simple interest account that pays 2.8% interest annually. If Ben leaves the money in the account for 12 years, how much interest will he earn.
$ 2184
$ 2183
$ 2180
$ 2181
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Steph took out a simple interest loan that charges 8.5% interest annually. If her original loan amount was for $30,000 and she is paying off the loan over 20 years, how much will she pay altogether?
$ 51 000
$ 80 000
$ 81 000
$ 30 000
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Determine the principal that will earn $ 294 in 5 years at 6% per annum simple interest.
$ 981
$ 881
$ 781
$980
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Determine the principal that will earn $200 as simple interest after 8 years at 5% per annum.
$400
$300
$500
$600
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Derek deposited $3000 in a simple interest account 3 years ago. He has earned $360 in interest so far. What is the interest rate for his account?
4%
8%
5%
4.5%
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Hector took out a small loan of $900 for 18 months. The simple interest rate on the loan was 10.5%. How much will he pay in interest on the loan?
$141.72
$140.75
$141.75
$143.74
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Todd takes out a student loan for $25 000. The annual simple interest rate on the loan is 7.75%. If Todd will be paying $38,750 in interest alone how many years is he taking to pay off the loan?
20 years
40 years
60 years
21 years
Tags
CCSS.6.EE.B.7
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