Simple Interest Assessment
Authored by Jason Mullis
Mathematics
9th - 12th Grade
CCSS covered
Used 2+ times
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16 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 5 pts
What is the formula for simple interest?
Tags
CCSS.8.EE.C.7B
2.
MULTIPLE CHOICE QUESTION
3 mins • 5 pts
What does the P in I =PRT mean?
Power
Principal
Product
Percent
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Question #5
In the formula I=P·R·T, what does r stand for in a loan?
A. Rate: the interest percentage you will pay on a loan
B. Ratio: the size of the interest interval compared to time
C. Return: how much money you end up earning
D. Reserves: how much money you have in the investment
A
B
C
D
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
The simple interest formula is I=Prt. What does the t represent?
Tags
CCSS.8.EE.C.7B
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Write the decimal as a percent.
0.37
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Write the percent as a decimal.
4.3%
7.
MULTIPLE CHOICE QUESTION
3 mins • 5 pts
The rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a______.
Fraction
Decimal
Ratio
Dollar Amount
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