
Simple Interest Solving for Variables
Authored by Anthony Clark
Mathematics
8th Grade
CCSS covered

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20 questions
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1.
MATH RESPONSE QUESTION
1 min • 5 pts
Jaliyah deposits $300 into an account that pays simple interest at a rate of 6% per year. How much interest will she be paid in the first 5 years?
Mathematical Equivalence
ON
Tags
CCSS.HSF.BF.A.2
2.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
If you bought a house for $120,000 at an interest rate of 4% and financed this loan with simple interest for 20 years, how much would the house end up costing you?
$96,000
$216,000
$262934.78
$142,934.78
Tags
CCSS.HSF.BF.A.2
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the interest earned?
$95
$125
$105
$135
Tags
CCSS.HSF.BF.A.2
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The simple interest formula is I=PRT. What does the T represent?
Principal
Time, in hours
Interest
Time, in years
Tags
CCSS.8.EE.C.7B
5.
MULTIPLE CHOICE QUESTION
1 min • 4 pts
Which type of interest is only calculated on the original principal?
Simple
Compound
Fixed
Variable
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.
the amount of money borrowed or deposited
the amount taxed
the percent interest for this year
the amount the bank owes you for being a customer at their bank
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Dan borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back IN TOTAL after 2 years?
$150
$1350
$192
$1392
Tags
CCSS.HSF.BF.A.2
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