Simple and Compound Interest Quiz
Authored by Karla Dieterle
Mathematics
9th - 12th Grade
CCSS covered
Used 9+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for simple interest?
A=P(1+r)t
I=Prt
I=P(1+r)t
A=Prt
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.
the amount of money borrowed or deposited
the percent interest for this year
the amount taxed
the amount the bank owes you for being a customer at their bank
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you are calculating the simple interest and you are given the time in months. How can you find the time in years?
divide 12 by the months
divide the months by 12
multiply 12 times the months
change the months to a decimal
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A bank is offering 2.5% simple interest on a savings account. If you deposit $5,000, how much interest will you earn in three years?
$5375
$37500
$375
$42500
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A bank is offering 2.5% simple interest on a savings account. If you deposit $5,000, what will be the total amount of money in your savings account after three years?
$375
$5375
$42500
$37500
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sarah borrowed $18,000 for 4 years at an annual simple interest rate of 7%. How much interest will she pay at the end of the 4 years?
$5040
$23040
$504000
$18000
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sarah borrowed $18,000 for 4 years at an annual simple interest rate of 7%. What is the total amount she will repay for the car loan?
$504000
$23040
$5040
$18000
Tags
CCSS.7.RP.A.3
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