Simple interest, Rate and Time

Mr. Peterson paid $1,020 in interest for a loan, which was given to him at a rate of 5% for 3 years.  How much money did he borrow originally?

• $5,400
• $6,800
• $3,240
• $14,620

Tags

CCSS.7.RP.A.3

Jack deposited $1,400 in his bank account.  After 3 years, the account earned $294 in interest.  Find the simple interest rate.

• 5%
• 8%
• 7.25%
• 7%

Tags

CCSS.7.RP.A.3

Principal = $500
Interest earned in 4 years = $60.
Find the interest rate.

• 1%
• 2%
• 3%
• 4%

Tags

CCSS.7.RP.A.3

I invest $42,000 at an interest rate of 5%. If I earn $12,600 in interest, how long did my investment last?

• 175 months

• 6 years

• 67 years

• 42 months

Tags

CCSS.7.RP.A.3

I spent $5,200 in interest on a loan. If I paid my loan off over 5 years at a rate of 8%, what was the initial amount of money I borrowed?

• $18,200

• $5,200

• $13,000

• $1,040

Tags

CCSS.7.RP.A.3

Leroy borrowed $1500 at an annual simple interest rate of 12%.  He paid $270 in interest.  For what time period did Leroy borrow the money?

• 8 years
• 0.015 years
• 18 months
• 18 years

Tags

CCSS.7.RP.A.3

Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time. What rate of interest did she pay?

• 6%
• 6%
• 8%
• 9%

Tags

CCSS.7.RP.A.3

9 months is how many years?

• .5
• .75
• .25

Tags

CCSS.HSN.Q.A.1

After 12 years, a deposit of $10,000 into your college account has earned $6,000 in interest payments. What simple interest rate did the account earn?

• 50%

• 5%

• 500%

• 7.5%

Tags

CCSS.7.RP.A.3

You invest $500 at 4% rate and receive $60 in simple interest. How many years was it invested for?

• 1 year

• 2 years

• 3 years

• 4 years

Tags

CCSS.7.RP.A.3