Simple Interest Quiz

What is the formula to calculate simple interest?

• I = P + r + t

• I = P * r * t

• I = P - r - t

• I = P / r / t

If the principal amount is $500, the interest rate is 5%, and the time period is 2 years, what is the simple interest?

• $100

• $75

• $25

• $50

If the principal amount is $800, the interest rate is 8%, and the time period is 3 years, what is the simple interest?

• $210

• $192

• $175

• $150

If the principal amount is $1000, the interest rate is 10%, and the time period is 1 year, what is the simple interest?

• $200

• $100

• $150

• $50

If the principal amount is $1200, the interest rate is 6%, and the time period is 4 years, what is the simple interest?

• $360

• $288

• $150

• $200

If the principal amount is $1500, the interest rate is 3%, and the time period is 2 years, what is the simple interest?

• $75

• $90

• $120

• $45

If the principal amount is $2000, the interest rate is 4%, and the time period is 5 years, what is the simple interest?

• $300

• $350

• $400

• $250

If the principal amount is $2500, the interest rate is 7%, and the time period is 3 years, what is the simple interest?

• $400

• $350

• $525

• $475

If the principal amount is $3000, the interest rate is 9%, and the time period is 2 years, what is the simple interest?

• $600

• $700

• $540

• $450

If the principal amount is $3500, the interest rate is 6%, and the time period is 4 years, what is the simple interest?

• $950

• $900

• $840

• $720