Percent and Interest

The simple interest owed on a loan of $5,600 after 4 years is $1,008. What percent represents the yearly interest rate on the loan?

• 0.045

• 45%

• 4.5%

• 4%

Jean deposits $730 in an account that pays 2.8% yearly simple interest. He neither adds more money nor withdraws any money from his account. What amount is in Jean's account after 5 years?

Answer explanation

Use the formula I=Prt

Make sure you make your percent into decimal form

I=730 x 0.028 x 5

I=102.20

Now it says what is in his account. This means what he put in (principal) and what he earned (interest)

102.20+730= 832.20

Tags

CCSS.7.RP.A.3

Jean deposits $730 in an account that pays 2.8% yearly simple interest. He neither adds more money nor withdraws any money from his account. What amount is in Jean's account after 5 years?

Tags

CCSS.7.RP.A.3

At a theater, the price of a ticket to a play is $50 per person. On Monday afternoons, the theater reduces the ticket to $35 per person. Students receive an additional $5 discount. What is the percent discount off of a $50 ticket for a student ticket to a Monday afternoon play?

• 20%

• 30%

• 40%

• 60%

Tags

CCSS.6.RP.A.3C

Lucia wants to spend less than $16 on her online book order. Which of the following represents amounts that are in Lucia's budget? Select all the correct answers.

• 25% off 20

• 10% off $18

• $14 plus 10% tax

• $15 plus 7% tax

• 20% off $18, then a 10% shipping fee

Tags

CCSS.6.RP.A.3C

The Spirit Club buys shirts for $8 each. The club marks up the price of the shirts by 75% to sell them in the school store. For the last week of the school year, the club sells the shirts for 25% off. how much profit does the Spirit Club make on each shirt sold in the last week of the school year? SHOW YOUR WORK

Tags

CCSS.6.RP.A.3C