SIMPLE INTEREST

Jerry borrowed RM4,000 for 5 years at 6% simple interest rate. How much interest is that?

• RM800

• RM1,000

• RM1,200

• RM1,500

Ann puts RM300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?

• 4

• 8

• 12

• 16

Starting money = RM350.

Interest rate = 2.5%

TIme = 3 years.

How much interest?

• RM7.50

• RM26.25

• RM87.5

• RM262.50

Julie borrowed RM3,500 for 3 years at 7½% simple interest rate.

How much interest is that?

• RM812.50

• RM787.50

• RM810

Principal = RM500

Interest rate =5%

Time = 5 years

What is the interest earned?

• 95

• 105

• 125

• 135

Kennedy won RM3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% simple interest, how much will she have in total in her account at the end of 10 years?

• RM8700

• RM38,700

• RM870

• RM3,870

Emily’s parents put RM1500 in her bank account for college tuition at a simple interest rate of 8.25%. What will be the balance after 18 years?

• RM22,275

• RM2227.50

• RM12,375

• RM3727.50

The simple interest formula is I=Prt.  The P represents the principle.  The principle is ___________________.  

• the amount of money borrowed or deposited
• the percent interest for his year
• the amount taxed
• the amount the bank owes you for being a customer at their bank

Caiden earned RM475 from mowing lawns last summer. He deposited this money in an account that pays a simple interest rate of 3.8%. What will be the amount of interest earned after 15 years?

• RM3182.50

• RM270.75

• RM2707.50

• RM745.75

Riley invested RM1,000 in a savings account. If the account earns 6.75% simple interest, what is the balance in her account after 15 years?

• RM1,012.50

• RM10,012.50

• RM2,012.50

• RM201.25