NEW
Font size
WorksheetsSimple Interest and Percent Error
Total questions: 10
Worksheet time: 5mins
Ms. Koven wants to know how many years it will take an investment of $1,500 to earn $300 in interest if the yearly interest rate is 5.5%. Identify the principal?
1500
300
1200
Ms. Koven wants to know how many years it will take an investment of $1,500 to earn $300 in interest if the yearly interest rate is 5.5%. Identify the correct equation.
1,500 = (300) (.055) (T)
300= (1500) (.55) (T)
300= (1500) (.055) (T)
Ms. Koven wants to know how many years it will take an investment of $1,500 to earn $300 in interest if the yearly interest rate is 5.5%. Solve.
.36 years
18.18 years
3.6 years
36 years
A bank account with $800 earns simple interest at the rate of 4.5% each year. The interest is paid at the end of every month. How much interest will the account earn after 4 months? Identify the time.
4 years
4/12 years
3/4 years
1. A bank account with $800 earns simple interest at the rate of 4.5% each year. The interest is paid at the end of every month. How much interest will the account earn after 4 months? Identify the correct equation.
I= (800)(.045) (4/12)
I= (800) (.045) (4)
I= (800) (4.5) (4)
I= (800) (4.5) (4/12)
1. A bank account with $800 earns simple interest at the rate of 4.5% each year. The interest is paid at the end of every month. How much interest will the account earn after 4 months? Solve.
1,200
12
144
14,400
Colton took out a loan from the bank to purchase a car. If he borrowed $17,240 at a simple interest rate of 8.25%, how much total will he have paid after 5 years?
$7,111.50
$71,115
$24,351.50
$10,128.50
Jonah earned $150.36 in interest on an account that earns 1.4% simple interest. If Jonah opened the account 12 years ago, what was the principal amount?
$89.50
$25.20
$150.36
$895
Scott took out a 72 month loan for $35,000 to purchase a new boat. If Scott paid $8,925 in simple interest, what was the interest rate?
.35%
4.25%
.0425%
.0035%
The veterinarian weighed Oliver’s new puppy, Boaz, on a broken scale. He weighed 36 pounds. However, Boaz actually weighs 34.5 pounds. What is the percent error?
.043%
4.3%
104.3%
1.04%
