
Lesson 28 - LT 4.6 Simple Interest
Authored by Ms. Prasad
Mathematics
7th Grade

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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
What is the simple interest formula?
2.
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 saved (invested or deposited in an account)
the percent interest for his year
the amount taxed
the amount the bank owes you for being a customer at their bank
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Calculate the interest earned on a $4,500 savings account that earns 2.5% simple interest over three years.
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Determine the simple interest earned: p= $2000 r= 4.6% t= 4 years
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Rachel invested $2,700 in a savings account earning 7% simple interest. If she invests for 2 years, how much money will she have in total?
$3,078
$378
$40,500
$4536
6.
MULTIPLE CHOICE QUESTION
5 mins • 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?
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
You invest $500 at 4% rate and receive $60 in simple interest. How many years was it invested for?
1 year
2 years
3 years
4 years
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