Simple Interest

What is the formula for calculating simple interest?

• I = R * T

• I = P * T

• I = P * R

• I = P * R * T

Tags

CCSS.7.RP.A.3

If the principal amount is $5000, the interest rate is 5%, and the time period is 3 years, what is the simple interest?

• 100

• 250

• 500

• 750

Tags

CCSS.7.RP.A.3

If the principal amount is $1000, the interest rate is 8%, and the simple interest is $80, what is the time period?

• 5

• 1

• 15

• 8

Tags

CCSS.7.RP.A.3

If the principal amount is $2000, the time period is 4 years, and the simple interest is $480, what is the interest rate?

• 0.06

• 0.12

• 0.1

• 0.08

Tags

CCSS.7.RP.A.3

If the interest rate is 6%, the time period is 2 years, and the simple interest is $240, what is the principal amount?

• 3000

• 1500

• 1000

• 2000

Tags

CCSS.7.RP.A.3

If the principal amount is $3000, the interest rate is 7%, and the simple interest is $630, what is the time period?

• 4

• 3

• 6

• 5

Tags

CCSS.7.RP.A.3

If the principal amount is $1500, the time period is 5 years, and the simple interest is $375, what is the interest rate?

• 5%

• 20%

• 15%

• 10%

Tags

CCSS.7.RP.A.3

If the interest rate is 4%, the time period is 3 years, and the simple interest is $120, what is the principal amount?

• 400

• 300

• 200

• 1000

Tags

CCSS.7.RP.A.3

If the principal amount is $4000, the interest rate is 9%, and the time period is 2 years, what is the simple interest?

• 900

• 360

• 720

• 540

Tags

CCSS.7.RP.A.3

If the principal amount is $2500, the time period is 6 years, and the simple interest is $900, what is the interest rate?

• 0.03

• 0.09

• 0.12

• 0.06

Tags

CCSS.7.RP.A.3