Simple Interest Quiz

Authored by Gera Cobb

Mathematics

8th Grade

CCSS covered

Used 12+ times

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13 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the formula for Simple Interest?

A = P(1+r)^t

I = Prt

P = Irt

a²+ b²= c²

Tags

CCSS.7.RP.A.3

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
Do we know the amount of interest?

Yes

Tags

CCSS.7.RP.A.3

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
What is the Principle (P)?

4/100

$1280

5 years

Tags

CCSS.7.RP.A.3

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
What is the rate (r)?

4/100

$1280

5 years

Tags

CCSS.7.RP.A.3

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
What is the time (t)?

3 years

4 years

5 years

6 years

Tags

CCSS.6.EE.B.7

FILL IN THE BLANK QUESTION

1 min • 1 pt

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
How much interest will Larry earn at the end of 5 years?

(a)

Tags

CCSS.7.RP.A.3

FILL IN THE BLANK QUESTION

1 min • 1 pt

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
What will be Larry's total balance after 5 years?

(a)

Tags

CCSS.7.RP.A.3

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Simple Interest

Which of the following is the formula for Simple Interest?

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
Do we know the amount of interest?

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
What is the Principle (P)?

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
What is the rate (r)?

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
What is the time (t)?

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
How much interest will Larry earn at the end of 5 years?

(a)

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
What will be Larry's total balance after 5 years?

(a)

A business owner invested $10,500 into an account that pays 1.2% annual simple interest. No additional deposits or withdrawals will be made.
Which amount is closest to the interest earned on the account at the end of 4 years?

A deposit of $7,912 is made into a new account that earns 5.75% simple interest. No additional deposits or withdrawals will be made for 2 years.
Which amount is closest to the balance in the account at the end of 2 years?

Elliot is taking out an $8,000 loan to help pay for his college education. He has two options. He can get a 5-year loan with 4.5% simple interest, or he can get a 7-year loan with 6% simple interest.
How much will Elliot owe in interest for the 5-year loan?

(a)

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Simple Interest

Which of the following is the formula for Simple Interest?

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals. Do we know the amount of interest?

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals. What is the Principle (P)?

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals. What is the rate (r)?

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals. What is the time (t)?

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals. How much interest will Larry earn at the end of 5 years? (a)

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals. What will be Larry's total balance after 5 years? (a)

A business owner invested $10,500 into an account that pays 1.2% annual simple interest. No additional deposits or withdrawals will be made. Which amount is closest to the interest earned on the account at the end of 4 years?

A deposit of $7,912 is made into a new account that earns 5.75% simple interest. No additional deposits or withdrawals will be made for 2 years. Which amount is closest to the balance in the account at the end of 2 years?

Elliot is taking out an $8,000 loan to help pay for his college education. He has two options. He can get a 5-year loan with 4.5% simple interest, or he can get a 7-year loan with 6% simple interest. How much will Elliot owe in interest for the 5-year loan? (a)

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Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Mathematics

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
Do we know the amount of interest?

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
What is the Principle (P)?

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
What is the rate (r)?

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
What is the time (t)?

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
How much interest will Larry earn at the end of 5 years?

(a)

Larry put $1,280 into a savings account 5 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals.
What will be Larry's total balance after 5 years?

(a)

A business owner invested $10,500 into an account that pays 1.2% annual simple interest. No additional deposits or withdrawals will be made.
Which amount is closest to the interest earned on the account at the end of 4 years?

A deposit of $7,912 is made into a new account that earns 5.75% simple interest. No additional deposits or withdrawals will be made for 2 years.
Which amount is closest to the balance in the account at the end of 2 years?

Elliot is taking out an $8,000 loan to help pay for his college education. He has two options. He can get a 5-year loan with 4.5% simple interest, or he can get a 7-year loan with 6% simple interest.
How much will Elliot owe in interest for the 5-year loan?

(a)