
Understanding Simple Interest
Interactive Video
•
Mathematics
•
7th Grade
•
Practice Problem
•
Medium
Standards-aligned
Matthew Lowry
Used 1+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the 'P' in the simple interest formula represent?
Profit earned
Previous balance
Principal amount
Percentage rate
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the interest rate 'R' expressed in the simple interest formula?
As a decimal
As a fraction
As a percentage
As a whole number
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you deposit $500 at an 8% interest rate for 10 years, what is the simple interest earned?
$40
$500
$400
$800
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the total value of an account after earning $96 in interest on a $1200 deposit over 2 years?
$2196
$96
$1200
$1296
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much interest will a $4000 investment earn at 6% simple interest over 5 years?
$1200
$600
$240
$200
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the total amount Deontay will pay for a $7500 loan over 6 years at a 5% interest rate?
$7500
$10250
$8250
$9750
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If Adriana's account earned $693 in interest over 6 years, what was her initial deposit if the interest rate was 7%?
$1650
$2000
$1000
$1500
Tags
CCSS.7.RP.A.3
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