Simple Interest Quiz

Simple Interest
If you borrow $368 at 5% for six years, how much will you pay back by the end of the term? 
P= $368
R=5%
T=6
I=?

• $428.65
• $576.60
• $478.40
• $378.87

Tags

CCSS.HSF.BF.A.2

Simple Interest
How much interest is earned on $939 at 7% for six years? 
I=?
P=$939
R=7%
T=6

• $482.12
• $128.98
• $394.38
• $678.27

Tags

CCSS.HSF.BF.A.2

Simple Interest
You put $399 into a savings account with an interest rate of 4% which earns $31.92 over a period of time. How long was the period of time?
P=$399
R=4%
I=$31.92
T=?

• 2 years
• 3 years
• 4 years
• 1 years

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.REI.B.3

CCSS.HSN.Q.A.1

Simple Interest
How much interest is earned on $583 at 8% for six years? 
I=?
P=$583
R=8%
T=6

• $384.32
• $279.84 
• $193.13
• $201.92

Tags

CCSS.HSF.BF.A.2

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

• $800
• $1,000
• $1,200
• $1,500

Tags

CCSS.HSF.BF.A.2

The simple interest formula is I=Prt.  What does the t represent?

• Principle
• Interest
• Time
• Percent Rate

Tags

CCSS.8.EE.C.7B

A bank is offering 2.5% simple interest on a savings account.  If you deposit $5,000, how much interest will you earn in three years?

• $5375
• $375
• $37500
• $42500

Tags

CCSS.6.EE.B.6

Sarah borrowed $18,000 for 4 years at an annual simple interest rate of 7%.  How much interest will she pay at the end of the 4 years?

• $5040
• $23040
• $504000
• $18000

Tags

CCSS.6.EE.B.6

Sarah borrowed $18,000 for 4 years at an annual simple interest rate of 7%.  What is the total amount she will repay for the car loan?

• $504000
• $5040
• $23040
• $18000

Tags

CCSS.HSF.BF.A.2

John deposited $2,000 into a savings account.  How much will John have in his account after 7 months at a yearly simple interest rate of 3¼%?

• $2455
• $455
• $37.92
• $2037.92

Tags

CCSS.HSF.BF.A.2