Exploring Simple Interest Concepts
Authored by Jesse Kyle Gable
Business
9th Grade
DOK Level 2: Skill/Concept covered
Used 12+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
John invested $5000 in a savings account with an annual simple interest rate of 3%. How much interest will he earn in 2 years?
$150
$300
$450
$600
Tags
DOK Level 2: Skill/Concept
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Sarah has two investment options. Option A offers a simple interest rate of 4% per year, and Option B offers a simple interest rate of 5% per year. If she invests $2000 in each option for 3 years, how much more interest will she earn with Option B compared to Option A?
$20
$30
$60
$90
Tags
DOK Level 2: Skill/Concept
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A loan of $1500 @ 6% for 4 years , the interest earned is $360?
Yes, the calculation is correct.
No, the correct interest should be $300.
No, the correct interest should be $400.
No, the correct interest should be $450.
Tags
DOK Level 2: Skill/Concept
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
$2500 @ 5% for 5 years, the interest earned is?
2500
5
625
7 years
Tags
DOK Level 2: Skill/Concept
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A bank offers a simple interest rate of 3.5% per year. If you want to earn $420 in interest, how much should you invest for 4 years?
$3000
$3500
$4000
$5000
Tags
DOK Level 2: Skill/Concept
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Tom invested $4000 in a bond that pays a simple interest rate of 4.5% per year. How much total amount will he have after 3 years?
$4540
$4720
$4840
$5000
Tags
DOK Level 2: Skill/Concept
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A principal of $1800 is invested at a simple interest rate of 3% per year. How much interest will be earned in 5 years?
$270
$300
$315
$360
Tags
DOK Level 2: Skill/Concept
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