Understanding Simple Interest

What is the simple interest for a principal of $100, a rate of 5%, and a time of 2 years?

• $10

• $15

• $20

• $5

If you have a principal amount of $200 and earn $30 in interest over 3 years, what is the interest rate?

• 10%

• 15%

• 3%

• 5%

Calculate the simple interest earned on a principal of $150 at a rate of 4% for 1 year.

• $9

• $6

• $12

• $3

If you want to earn $50 in interest from a principal of $500 over 5 years, what interest rate do you need?

• 1%

• 5%

• 3%

• 2%

A loan of $300 has an interest rate of 6% for 4 years. How much simple interest will be paid?

• $72

• $36

• $120

• $48

Identify the principal amount if the simple interest is $40, the rate is 5%, and the time is 2 years.

• 200

• 100

• 50

• 400

If you invest $250 at a rate of 3% for 3 years, how much interest will you earn?

• $10.50

• $22.50

• $30.00

• $15.00

What is the total amount (principal + interest) after 2 years if the principal is $400 and the interest earned is $48?

• $400

• $448

• $500

• $448.50

A student borrowed $600 at a simple interest rate of 7% for 2 years. How much interest will they pay?

• $84

• $42

• $120

• $60

If the simple interest earned is $20, the principal is $200, and the time is 2 years, what is the interest rate?

• 2%

• 10%

• 8%

• 5%