7th grade practice on simple interest, etc

  If you receive 25% off an item costing $22.00, how much money do you save?

• $ 5.50
• $ 4.25
• $6.00
• $7.35

Sales tax is __________ to the price

• subtracted
• added
• multiplied
• divided

Angela spent $30.00 at a restaurant.  If she leaves a 15% tip, how much will her TOTAL BILL be? 

• 30.00
• 45.25
• $ 34.50
• 35.65

Principal = $500

Interest Rate = 5%

Time = 5 years

What is the interest earned?

• $95

• $125

• $105

• $135

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

• Principal

• Time, in hours

• Interest

• Time, in years

Write 4.3% as a decimal.

• 4.3

• .43

• 0.043

• 4300

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

How much interest will be earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $80,000

• $800

• $16

When Lisa was born, her parents put $8,000 into a college fund account that earned 9% simple interest. Find the amount of interest earned after 18 years.

• $720

• $1,080

• $20,960

• $12,960

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