What is Simple Interest?
Simple Interest Practice

Flashcard
•
Mathematics
•
7th Grade
•
Hard
Quizizz Content
FREE Resource
Student preview

15 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Back
Simple Interest is the interest calculated on the principal amount only, without compounding. It can be calculated using the formula: Interest = Principal × Rate × Time.
2.
FLASHCARD QUESTION
Front
What is the formula for calculating Simple Interest?
Back
The formula for calculating Simple Interest is: Interest = Principal × Rate × Time.
3.
FLASHCARD QUESTION
Front
If you borrow $1,000 at an interest rate of 5% for 3 years, how much interest will you pay?
Back
Interest = $1,000 × 0.05 × 3 = $150.
4.
FLASHCARD QUESTION
Front
How do you calculate the total amount to be paid back on a loan with Simple Interest?
Back
Total Amount = Principal + Interest.
5.
FLASHCARD QUESTION
Front
If you have $200 in a savings account that earns 4% interest annually, how much interest will you earn in 1 year?
Back
Interest = $200 × 0.04 × 1 = $8.
6.
FLASHCARD QUESTION
Front
What is the principal in a Simple Interest calculation?
Back
The principal is the initial amount of money borrowed or invested before interest.
7.
FLASHCARD QUESTION
Front
How do you convert a percentage to a decimal for calculations?
Back
To convert a percentage to a decimal, divide by 100. For example, 5% becomes 0.05.
Create a free account and access millions of resources
Similar Resources on Wayground
15 questions
Simple Interest

Flashcard
•
7th Grade
10 questions
Simple interest

Flashcard
•
7th Grade
10 questions
Practice: Simple and Compound Interest

Flashcard
•
7th - 8th Grade
15 questions
Simple Interest Math 7

Flashcard
•
7th Grade
15 questions
Simple Interest

Flashcard
•
7th Grade
15 questions
7.RP.3 Simple Interest

Flashcard
•
7th Grade
15 questions
Simple Interest

Flashcard
•
7th Grade
15 questions
Simple Interest

Flashcard
•
7th Grade
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade