Simple Interest Check

What is the formula for calculating simple interest?

• I = R * T

• I = P * T

• I = P * R

• I = P * R * T

If the principal amount is $500, the interest rate is 5%, and the time period is 3 years, what is the simple interest?

• 50

• 100

• 150

• 75

If the simple interest is $120, the interest rate is 8%, and the time period is 2 years, what is the principal amount?

• 750

• $960

• $480

• $240

If the principal amount is $800, the simple interest is $160, and the time period is 4 years, what is the interest rate?

• 2%

• 10%

• 15%

• 5%

If the principal amount is $1000, the interest rate is 6%, and the simple interest is $180, what is the time period?

• 3

• 2

• 4

• 5

What is the principal amount if the simple interest is $75, the interest rate is 4%, and the time period is 5 years?

• 375

• 500

• 100

• 200

What is the interest rate if the principal amount is $600, the simple interest is $90, and the time period is 3 years?

• 5%

• 20%

• 15%

• 10%

What is the time period if the principal amount is $400, the interest rate is 7%, and the simple interest is $84?

• 3

• 5

• 4

• 2

If the principal amount is $1200, the interest rate is 9%, and the time period is 6 years, what is the simple interest?

• 540

• 720

• 900

• 648

If the simple interest is $200, the interest rate is 10%, and the time period is 8 years, what is the principal amount?

• 150

• 100

• 300

• 250