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WorksheetsConsumer Arithmetic
Total questions: 9
Worksheet time: 23mins
What does the "I" in the interest formula stand for?
It
Interest
the Headless Iron Man
Ignoramus
This mysterious hand went to the mall and saw a massage chair that he would have to take a loan out to purchase. The total of the loan was $6600. The bank said that he could get a simple interest rate of 8% for 5 years. What is the total amount that the mysterious hand will pay for the chair?
$2600
$924
$9240
$260
Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?
$150
$192
$1350
$1392
Pennywise puts $300 in a bank account earning 4% interest. How much will he earn in interest in 1 year?
4
8
12
16
What does the "r" in the interest formula stand for?
Principal
Interest
rate
time
Ann puts $300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?
4
8
12
16
Anna invested $2,500 at an annual rate of 5%. How long will it take until Anna earns $1,125 in interest?
5 years
8 years
10 years
9 years
Jack deposited $1,400 in his bank account. After 3 years, the account earned $294 in interest. Find the simple interest rate.
5%
8%
7.25%
7%
