Percent and Interest Rate

Principal = $800
Interest Rate = 3.5%
Time = 6 months
Find the interest earned.

• 14

• 140

• 168

• 16.80

Sam borrowed $4,500 for 2 years and had to pay $630 simple interest at the end of that time. What rate of interest did he pay?

• 6%

• 7%

• 8%

• 9%

You lend $240 to your friend.  He pays you back $270.  What interest rate did you charge your friend?

• 88%

• 20%

• 12.5%

• 10%

What is 30% of 450?

• 30

• 135

• 450

• 100

The regular price of a scooter is $65.50. It is on sale for $52.40. What is the percent decrease from the regular price to the sale price of the scooter? 

• 35%

• 25%

• 30%

• 20%

Find the total amount of interest if interest is compounded annually (once a year). Principle of $2750 at 8% for 2 years. (round to the nearest cent)

• $220.50

• $457.60

• $660.60

• $237.60

Calculate the Simple Interest:

Principle : $350

Interest Rate : 2.5%

Time : 3 years

• $7.50

• $26.25

• $87.50

• $262.50

Write the decimal as a percent: 0.37

• 37%

• 3.7%

• 0.37%

• 370%

The rate is given as a percent (%).  Before using it in the simple interest formula, you must first convert it to a______.

• fraction

• decimal

• ratio

• dollar amount

Find the simple interest paid on a deposit of $225 at a rate of 1.5% over 2 years.

• $6.75

• $3.375

• $2,278.13

• $6,750