Simple Interest

Ali invested 1200 naira at the rate of 2% for 3 years. What is interest after 3 years?

• 70

• 72

• 80

• 71

Principal= ₱50,000

Rate of Interest=1.5%

Time=2 years and 6 months

*Solve for the INTEREST.

REMINDERS:

1) Type your answers only.

2) No labels needed.

Find the simple interest earned when the principal is $500 at a rate of 10% held in the bank for 8 months.

• $33.50

• $40,000

• $50

• $400

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

• $800
• $1,000
• $1,200
• $1,500

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

• $7.50
• $26.25
• $87.5
• $262.50

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

• Important
• Interest
• Internet
• Igloo

Luke invested his money in the stock market worth ₱500,000 that earns about 5% yearly. After 10 years, how much will he receive in total?

REMINDERS:

1) Type your answers only.

2) No labels needed.

Calculate the interest.  I = PRT,
Principal = $10000,
Rate = 7%,
Time = 20 years

• 1400
• 1000
• 14000
• 14

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

Find the simple interest earned when the principal is $500 at a rate of 10% held in the bank for 8 months.

• $33.50

• $40,000

• $50

• $400