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WorksheetsSimple Interest 2
Total questions: 16
Worksheet time: 45mins
Name
Class
Date
1.
Write the percent as a decimal.
5%
5%
a)
5
b)
.5
c)
.05
d)
500
2.
Write the percent as a decimal.
4.3%
4.3%
a)
4.3
b)
.43
c)
.043
d)
4300
3.
Write the percent as a decimal.
3.25%
3.25%
a)
.0325
b)
.325
c)
3250
d)
32.5
4.
Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?
Interest rate = 2.5%
TIme = 3 years.
How much interest?
a)
$7.50
b)
$26.25
c)
$87.5
d)
$262.50
5.
Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?
a)
$150
b)
$192
c)
$1350
d)
$1392
6.
Ann puts $300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?
a)
4
b)
8
c)
12
d)
16
7.
Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?
Interest rate = 2.5%
TIme = 3 years.
How much interest?
a)
7.50
b)
26.25
c)
87.5
d)
262.50
8.
Beyonce went to the mall and saw a massage chair that she would have to take a loan out for $6,500 to purchase. The bank said that she could get a simple interest rate of 8% for 5 years. What is the total amount that Beyonce will pay for the chair?
a)
$2600
b)
$910
c)
$9100
d)
$260
9.
Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest would he owe at the end of that time?
a)
$800
b)
$1,000
c)
$1,200
d)
$1,500
10.
Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back TOTAL (principal AND interest combined) in 2 years?
a)
$150
b)
$192
c)
$1350
d)
$1392
11.
Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?
a)
$120
b)
$144
c)
$1,200
d)
$1,440
12.
Convert 18 months to years.
a)
18 Years
b)
1.5 Years
c)
.18 Years
d)
You cannot change it to years.
13.
The Principal and Interest are always___________.
a)
fraction
b)
decimal
c)
percent
d)
money
14.
What would be the total amount of your student loan, if you had to pay back a loan of $10,550, at a rate of 3% over the course of 10 years ?
a)
$13,715
b)
$3165
c)
$31,650
d)
$10,550
15.
How do you calculate the balance in an account, with interest?
a)
Subtract the interest from the principle amount
b)
Multiply the principle, rate and time
c)
Add the interest to the principle amount
d)
Add the principle amount and the time
16.
Before the simple interest formula can be used, what form does the rate need to be in?
a)
decimal
b)
years
c)
percent
d)
months
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