Exploring Simple Interest Concepts
Interactive Video
•
Mathematics
•
6th - 10th Grade
•
Practice Problem
•
Medium
Standards-aligned
Ethan Morris
Used 1+ times
FREE Resource
Standards-aligned
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the 'P' in the simple interest formula represent?
Principal
Payment
Profit
Percentage
Tags
CCSS.HSF-IF.C.8B
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the 'T' in the simple interest formula stand for?
Transaction
Total
Time
Term
Tags
CCSS.HSF-IF.C.8B
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the 'I' in the simple interest formula represent?
Income
Installment
Increase
Interest
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the 'Rate' in the simple interest formula expressed?
As a decimal
As a whole number
As a fraction
As a percentage
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the simple interest formula, how should time be represented?
In days
In years
In months
In weeks
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of converting the interest rate to a decimal in the simple interest formula?
To decrease the value
To simplify calculation
To increase accuracy
To comply with banking standards
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the total interest earned in 5 years on a $580 deposit at a 3% interest rate?
$58.00
$870.00
$87.00
$8.70
Tags
CCSS.7.RP.A.3
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