Simple Interest

Simple Interest

6th - 8th Grade

8 Qs

quiz-placeholder

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Simple Interest

Simple Interest

Assessment

Quiz

Mathematics

6th - 8th Grade

Medium

Created by

Daniel Miranda

Used 1+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Emilio borrows $1200 from a bank with 8.5% simple interest per year. How much will he have to pay back total in 2 years?

$204

$996

$1,020

$1,404

2.

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

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

$800
$1,000
$1,200
$1,500

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Media Image

The simple interest formula is I=Prt.  The P represents the principle.  The principle is ___________________.  

the amount of money borrowed or deposited
the percent interest for his year
the amount taxed
the amount the bank owes you for being a customer at their bank

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Media Image

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

You borrowed 43,800 at a SIMPLE interest rate of 4.8%. If you pay it back in 2 years, how much interest is paid pack?

$464,280

$85,848

$4204.8

$48,004.80

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

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

95
105
125
135

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