Simple Interest Practice

Determine the simple interest rate for the given principal of $500, time of 20 years, and simple interest earned of $250.

• 2.5%

• 3%

• 4%

• 5%

Determine the simple interest rate for the given principal of $850, time of 10 years, and simple interest earned of $255.

• 3%

• 2.5%

• 4%

• 5%

Determine the simple interest rate for the given principal of $1800, time of 7 years, and simple interest earned of $441.

• 3.5%

• 4%

• 5%

• 6%

Find the simple interest paid on a loan of $750 with an 18% rate over 2 years.

• $135

• $13,500

• $270

• $27,000

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.A.2

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

When Loofa was born, her parents put $8,000 into a college fund account that earned 9% simple interest. Find the amount of interest earned after 18 years.

• $720

• $20,960

• $1,080

• $12,960

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.A.2

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1