Simple Interest

Simple Interest

7th Grade

20 Qs

quiz-placeholder

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Simple Interest

Simple Interest

Assessment

Quiz

Mathematics

7th Grade

Easy

Created by

Bryon Howard

Used 1+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Principal = $500

Interest Rate = 5%

Time = 5 years

What is the interest earned?

$95

$125

$105

$135

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The simple interest formula is I=PRT.  What does the T represent?

Principal

Time, in hours

Interest

Time, in years

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Write 0.37 as a percent (%)

37%

.37%

3.7%

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Write 4.3% as a decimal.

4.3

.43

0.043

4300

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

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

Principal

Rate

Time

Interest

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

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

Rate

Principal

Interest

Time

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Dan borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back IN TOTAL after 2 years?

$150

$1350

$192

$1392

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