Simple & Compound Interest
Quiz
•
Mathematics
•
7th Grade
•
Practice Problem
•
Medium
Standards-aligned
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12 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Smithville Bank is offering each of it's customers a record 3.4% interest on new savings account. If Mr. Thomas opens an account with $1,500, how much interest will he earn in 3 years?
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Find the simple interest:
Principal: $6,000
Interest Rate: 5%
Time: 6 months
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Ann puts $300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Find the compound interest:
Principal: $1735
Interest Rate: 0.8%
Time: 1 year
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
To earn as much interest as possible, you should open a savings account that earns ______ interest and has the _____ interest rate.
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If you are calculating the simple interest and you are given the time in months. How can you find the time in years?
Tags
CCSS.7.RP.A.3
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