I=PRT Simple Interest Calculation Quiz

What is the interest (I) for a principal (P) of $500 at a rate (R) of 8% for a time (T) of 3 months?

• $10

• $12

• $15

• $20

If the principal (P) is $50 and the interest (I) is $15, what is the rate (R) for a time (T) of 90 days?

• 12%

• 15%

• 18%

• 20%

For a principal (P) of $2,000 and an interest (I) of $390, how long is the money borrowed if the rate (R) is not given?

• 6 months

• 12 months

• 18 months

• 24 months

How much interest do you pay if you borrow $50 and after six months pay back $58?

• $6

• $8

• $10

• $12

What is the interest rate if you borrow $50 and after six months pay back $58?

• 16%

• 24%

• 32%

• 40%

If you borrow $800 at 18% for 11 months, how much total interest will you pay?

• $108

• $118

• $128

• $132