Simple Interest
Authored by MARIA MARTINEZ
Mathematics
6th Grade
CCSS covered
Used 12+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is simple interest?
The cost of borrowing money with compounding effects
The process of exchanging currencies
A type of interest that banks do not offer
The benefit of investing money without taking into account compounding effects
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT used to calculate simple interest?
Principal
Account number
Time period
Interest rate
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the 'P' stand for in the simple interest formula?
Profit
Percentage
Principal
Payment
Tags
CCSS.8.EE.C.7B
4.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
How is the interest rate expressed in the simple interest formula?
In percentage
As a fraction
As a decimal
As a whole number
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What symbol denotes the rate of interest?
I
P
R
T
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the 'T' represent in the simple interest formula?
Total amount
Taxes
Time
Transaction
Tags
CCSS.HSF-IF.C.8B
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you borrow $10,000 at a rate of 6% for one year, how much simple interest will you pay?
$6000
$600
$60
$6,000
Tags
CCSS.7.RP.A.3
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