WorksheetsSimple interest rate
Total questions: 5
Worksheet time: 13mins
Name
Class
Date
1.
Sam borrowed $4,500 for 2 years and had to pay $630 simple interest at the end of that time. What rate of interest did he pay?
a)
6%
b)
7%
c)
8%
d)
9%
2.
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
3.
What does the "I" in the interest formula stand for?
a)
Principal
b)
Interest
c)
Rate
d)
Time
4.
Find the simple interest paid on a deposit of $225 at a rate of 1.5% over 2 years.
a)
$6.75
b)
$3.375
c)
$2,278.13
d)
$6,750
5.
Find the simple interest paid on a loan of $1,500 at a rate of 19% 15 months.
a)
$356.25
b)
$427,500
c)
$4,275
d)
$285
100 %
