Simple Interest Review
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Simple Interest Review
Quiz
•
Mathematics
•
7th Grade
•
Medium
+8
Standards-aligned
Leigha Sumner
Used 16+ times
FREE Resource
About this resource
Get to know the world of simple interest with our engaging quiz designed specifically for 7th-grade mathematics students! Created by Leigha Sumner, this assessment features 20 questions that will test your understanding of simple interest concepts at a medium difficulty level. You'll explore the simple interest formula (I=Prt) and its components, practice converting percentages to decimals, and calculate interest amounts. With a mix of multiple-choice and fill-in-the-blank questions, this quiz offers a comprehensive review of these essential math skills, aligning perfectly with K-12 curriculum standards. Understanding the simple interest formula is crucial for students, as it lays the foundation for calculating the total amount to be repaid on loans. This quiz emphasizes the importance of knowing each variable in the formula: principal (P), rate (r), and time (t). You'll also learn to convert time from months to years, find the principal amount when given interest, rate, and time, and distinguish between principal and total amount in calculations. These skills are vital for developing financial literacy and applying mathematical concepts to real-world situations like loans and investments. Mastering percentage to decimal conversions is also highlighted, ensuring accurate calculations and a solid grasp of these concepts. Ready to boost your mathematical and financial literacy skills? Quizizz makes learning simple interest fun and accessible! Our interactive platform supports K-12 learning, allowing you to practice at your own pace while tracking your progress and identifying areas for improvement. Teachers can use Quizizz for formative assessments, making it an invaluable tool in the classroom. So, why wait? Embrace the adventure of learning with Quizizz and start mastering simple interest concepts today!
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20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
What is the formula for simple interest?
A=Prt
I=Prt
T=Pri
Interest
2.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
What does the P in I=Prt mean?
Power
Product
Percent
Principal
3.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
What does the r in I=Prt mean?
Rate
Return
Reserve
Resource
Tags
CCSS.HSA.SSE.A.1
4.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
What does the t mean in I=Prt?
Time, in years
Principal
Time, in hours
Time, in days
5.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Write the percent as a decimal 4.3%
4300
4.3
.43
.043
6.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Write the percent as a decimal 17%
17
.017
1.7
.17
Tags
CCSS.6.NS.B.3
7.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Write the percent as a decimal 28.2%
28.2
.282
2.82
.0282
Tags
CCSS.5.NBT.A.3
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