Simple Interest Quiz

What is the formula to calculate simple interest?

• I = P * R

• I = P * T

• I = R * T

• I = P * R * T

If the principal amount is $500, the interest rate is 5%, and the time period is 2 years, what is the simple interest?

• 50

• 10

• 250

• 100

If the principal amount is $1000, the interest rate is 8%, and the time period is 3 years, what is the simple interest?

• 80

• 320

• 400

• 240

If the principal amount is $2000, the interest rate is 6%, and the time period is 1 year, what is the simple interest?

• 100

• 120

• 300

• 500

If the principal amount is $1500, the interest rate is 4%, and the time period is 5 years, what is the simple interest?

• 300

• 100

• 500

• 1000

If the principal amount is $800, the interest rate is 3%, and the time period is 4 years, what is the simple interest?

• 96

• 360

• 240

• 120

If the principal amount is $2500, the interest rate is 7%, and the time period is 2 years, what is the simple interest?

• 350

• 700

• 525

• 175

If the principal amount is $1200, the interest rate is 9%, and the time period is 3 years, what is the simple interest?

• 360

• 432

• 324

• 540

If the principal amount is $1800, the interest rate is 5%, and the time period is 4 years, what is the simple interest?

• 200

• 720

• 900

• 360

If the principal amount is $3000, the interest rate is 6%, and the time period is 2 years, what is the simple interest?

• 360

• 600

• 1200

• 1800