WorksheetsSimple Interest
Total questions: 10
Worksheet time: 8mins
Name
Class
Date
1.
What does the "I" in the interest formula stand for?
a)
Principal
b)
Interest
c)
Rate
d)
Time
2.
John put 14,000 Euros in an account at a simple interest rate of 1% per year. How much interest will he get after 12 years?
a)
16,800 Euros
b)
168,000 Euros
c)
1,680 Euros
3.
Maria borrowed $3,000 at a simple interest rate of 4% per year. How much did she have to repay after 4 years?
a)
$480
b)
$3,480
c)
$4,800
d)
$7,800
4.
What does the "r" in the interest formula stand for?
a)
Principal
b)
Interest
c)
rate
d)
time
5.
Anna invested $2,500 at an annual rate of 5%. How long will it take until Anna earns $1,125 in interest?
a)
5 years
b)
8 years
c)
10 years
d)
9 years
6.
Jack deposited $1,400 in his bank account. After 3 years, the account earned $294 in interest. Find the simple interest rate.
a)
5%
b)
8%
c)
7.25%
d)
7%
7.
The rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a______.
a)
fraction
b)
decimal
c)
ratio
d)
dollar amount
8.
The Principal and Interest are always___________.
a)
fraction
b)
decimal
c)
percent
d)
dollar amount
9.
If the time is given in months, you must first _____________ by 12.
a)
add
b)
subtract
c)
multiply
d)
divide
10.
Mr. Peterson paid $1,020 in interest for a loan, which was given to him at a rate of 5% for 3 years. How much money did he borrow originally?
a)
$5,400
b)
$6,800
c)
$3,240
d)
$14,620
100 %
