Simple Interest Review

What is the formula for calculating simple interest?

• I = P + r + t

• I = P / r / t

• I = P * r * t

• I = P - r - t

Tags

CCSS.7.RP.A.3

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

• $100

• $75

• $125

• $50

Tags

CCSS.7.RP.A.3

If the principal amount is $1000, the simple interest is $150, what is the interest rate?

• 15%

• 10%

• 25%

• 20%

Tags

CCSS.7.RP.A.3

If the principal amount is $800, the interest rate is 8%, and the simple interest is $64, what is the time period?

• 5

• 12

• 15

• 10

Tags

CCSS.7.RP.A.3

Calculate the simple interest on $1200 at 6% for 2 years.

• $144

• $120

• $156

• $132

Tags

CCSS.7.RP.A.3

If the simple interest on $700 is $105, what is the rate of interest?

• 20%

• 10%

• 15%

• 12%

Tags

CCSS.7.RP.A.3

A sum of money becomes $1200 after 2 years and $1320 after 3 years. Calculate the simple interest.

• $130

• $100

• $110

• $120

Tags

CCSS.7.RP.A.3

If the simple interest on $900 is $135, what is the time period?

• Cannot be determined without the rate

• The time period is 1 year

• The time period is 15 months

• The time period is 2 years

Tags

CCSS.7.RP.A.3

Calculate the principal amount if the simple interest is $80, the interest rate is 4%, and the time period is 5 years.

• 450

• 200

• 320

• 400

Tags

CCSS.7.RP.A.3

If the principal amount is $2000, the interest rate is 10%, and the time period is 4 years, what is the total amount?

• $2500

• $3000

• $2200

• $2800

Tags

CCSS.7.RP.A.3