Simple Interest

Simple Interest

7th Grade

13 Qs

quiz-placeholder

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Simple Interest

Simple Interest

Assessment

Quiz

Mathematics

7th Grade

Hard

Created by

KELLY GEORGE

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13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does the "I" in the interest formula stand for?

Important

Interest

Internet

Investment

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does the "p" in the interest formula stand for?

Principal

Percent

rate

time

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does the "r" in the interest formula stand for?

Principal
Interest
rate
time

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The simple interest formula is I=Prt.  What does the t represent?

Principle
Interest
Time, in hours
Time, in years

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

95
105
125
135

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the interest earned on a savings account over 2 years, given a principal of $200 and a rate of 5%?

$5

$25

$20

$2

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the interest on a savings account at a rate of 2%, given a starting amount of $575, over 1 year's time?

$115

$586.50

$11.50

$1.50

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