Less 2-5 : Simple interest

What is the simple interest for a principal of $200 at a rate of 5% for 3 years?

• $30

• $20

• $50

• $15

If you invest $1500 at a simple interest rate of 4% for 2 years, what is the total interest earned?

• $150

• $120

• $90

• $60

Identify the principal amount if the simple interest earned is $120, the rate is 6%, and the time is 5 years.

• 400

• 600

• 300

• 500

Using the formula I = PRT, calculate the interest if P = $800, R = 3%, and T = 4 years.

• $72

• $48

• $120

• $96

A loan of $1000 is taken for 1 year at a simple interest rate of 7%. How much interest will be paid?

• $100

• $70

• $50

• $30

If the simple interest on a principal of $500 is $25 after 2 years, what is the interest rate?

• 3%

• 1.5%

• 2.5%

• 4%

Calculate the total amount to be paid back if a principal of $1200 is borrowed at a 5% interest rate for 3 years.

• $1440

• $1200

• $1500

• $1380

What is the principal amount if the simple interest earned is $45, the rate is 5%, and the time is 3 years?

• 250

• 300

• 200

• 150

A student saves $300 at a simple interest rate of 2% for 5 years. How much interest will they earn?

• $15

• $30

• $60

• $45

If you have a principal of $2500 and earn $150 in interest over 2 years, what is the interest rate?

• 5%

• 4%

• 3%

• 2%