Understanding Simple Interest

Understanding Simple Interest

4th Grade

10 Qs

quiz-placeholder

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Understanding Simple Interest

Understanding Simple Interest

Assessment

Quiz

Others

4th Grade

Practice Problem

Medium

Created by

Christ King

Used 1+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

$10

$15

$20

$5

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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%

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

$9

$6

$12

$3

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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%

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

$72

$36

$120

$48

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

200

100

50

400

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

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