Simple Interest Preview Assignment

Simple Interest Preview Assignment

7th Grade

21 Qs

quiz-placeholder

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Simple Interest Preview Assignment

Simple Interest Preview Assignment

Assessment

Quiz

Mathematics

7th Grade

Medium

Created by

Shannon Mulkerrin

Used 2+ times

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21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Principle
Interest
Time, in hours
Time, in years

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Principal
Interest
Rate
Time

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Principal
Interest
rate
time

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Principal
Interest
rate
time

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The rate is given as a percent (%).  Before using it in the simple interest formula, you must first convert it to a______.

fraction
decimal
ratio
dollar amount

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Tina invested $2,000 in a simple interest account and earned 8% rate for 5 years. What is the interest that she earned on the account?

$160

$800

$80,000

$16

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

$7.50
$26.25
$87.5
$262.50

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