
Mastering Simple Interest Concepts

Quiz
•
Others
•
7th Grade
•
Medium
Avanish Pandey
Used 1+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the simple interest on a principal of $500 at a rate of 5% for 3 years?
$100
$150
$50
$75
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you earn $60 as simple interest on a loan of $800, what is the interest rate?
5%
10%
12.5%
7.5%
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Calculate the time period if the simple interest is $120, the principal is $600, and the rate is 4%.
1.25 years
3 years
0.5 years
2 years
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Using the formula for simple interest, calculate the interest earned on $1,000 at 6% for 2 years.
$200
$80
$120
$60
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A sum of $1,200 is invested at a simple interest rate of 3% per annum. How much interest will be earned in 5 years?
$180
$300
$240
$150
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the simple interest earned is $150 and the principal is $1,000, what is the time period at an interest rate of 5%?
2 years
3 years
5 years
4 years
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Determine the interest rate if a principal of $2,000 earns $300 in 4 years as simple interest.
2.5%
4%
3.75%
5%
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