
Simple Interest Calculations and Concepts
Interactive Video
•
Mathematics
•
6th - 7th Grade
•
Practice Problem
•
Hard
Thomas White
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the variable 'P' represent in the context of simple interest?
Principal or initial amount
Percentage rate
Time in years
Interest earned
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is the correct formula for calculating simple interest?
I = P + R + T
I = P * R * T
I = P - R - T
I = P / R / T
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the principal is $100, the rate is 5%, and the time is 3 years, what is the interest earned?
$15
$20
$10
$5
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you convert an interest rate from a percentage to a decimal?
Multiply by 100
Subtract 100
Divide by 100
Add 100
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a problem where the interest earned is $20, the principal is $500, and the rate is 4%, what is the time in years?
3 years
4 years
2 years
1 year
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the principal is missing, the interest rate is 10%, the time is 7 years, and the interest earned is $35, what is the principal?
$50
$100
$200
$150
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the interest rate if the principal is $200, the time is 2 years, and the interest earned is $6?
1.5%
2%
2.5%
3%
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