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WorksheetsFinding The Principal
Total questions: 10
Worksheet time: 12mins
Name
Class
Date
1.
A sum of money is deposited in a bank at an interest rate of 3% p.a. The simple interest received after 2 years will be Rs 450. Find the sum of money deposited. (Hint Find P)
a)
Rs 6 500
b)
Rs 7 000
c)
Rs 7 500
d)
Rs 8 000
2.
The simple interest formula is I=Prt. What does the t represent?
a)
Principle
b)
Interest
c)
Time, in hours
d)
Time, in years
3.
The simple interest formula is I=Prt. The P represents the principal. The principal is ___________________.
a)
the amount of money borrowed or deposited
b)
the percent interest for his year
c)
the amount taxed
d)
the amount the bank owes you for being a customer at their bank
4.
Principal = $350.
Interest rate = 2.5%
TIme = 3 years.
How much simple interest?
Interest rate = 2.5%
TIme = 3 years.
How much simple interest?
a)
$7.50
b)
$26.25
c)
$87.5
d)
$262.50
5.
Jimmy Neutron 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.
If you are calculating the simple interest and you are given the time in months, how can you find the time in years?
a)
divide 12 by the months
b)
divide the months by 12
c)
multiply 12 times the months
d)
change the months to a decimal
7.
What sum would yield an interest of $36 in 3 years at 3% p.a.?
(a)
8.
Find the principal invested if $178 interest was earned in 2 years at an interest rate of 4%.6
(a)
9.
Find the principal invested if $495 interest was earned in 3 years at an interest rate of 6%.
(a)
10.
Find the principal invested if $1,246 interest was earned in 5 years at an interest rate of 7%.
(a)
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