Simple Interest, Percent Change, Percent Error

The simple interest formula is I=PRT. The P represents the principle. The principle is ___________________.

• the amount of money borrowed or deposited

• the percent interest for his year

• the amount taxed

• the amount the bank owes you for being a customer at their bank

The simple interest formula is I=PRT. What does the T represent?

• Principle

• Interest

• Time, in hours

• Time, in years

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

• $150

• $192

• $1350

• $1392

Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?

• $120

• $144

• $1,200

• $1,440

Maria borrowed $3,000 at a simple interest rate of 4% per year.  How much did she have to repay after 4 years?

• $480

• $3,480

• $4,800

• $7,800

Calculate the percent change from 50 to 75.

• 25%

• 50%

• 75%

• 100%

The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.

• the amount of money borrowed or deposited

• the percent interest for his year

• the amount taxed

• the amount the bank owes you for being a customer at their bank

What is the percent change in the price of a coat that was originally priced $90 and is now $72?

• 80%

• 125%

• 25%

• 20%

What is the simple interest on a principal amount of $200 at a rate of 3% per year for 4 years?

• $18

• $24

• $30

• $36

Calculate the simple interest on a loan of $1,000 at an annual interest rate of 5% for 3 years.

• $150

• $50

• $250

• $300