Simple Interest and Commission

Front

What is commission?

Back

A percentage you earn from your total sales.

Front

What is simple interest?

Back

Interest calculated on the principal amount only, not on the interest accrued.

Front

How do you calculate simple interest?

Back

Simple Interest = Principal × Rate × Time.

Front

What is the formula for total amount after simple interest?

Back

Total Amount = Principal + Simple Interest.

Front

If you invest $1,000 at a 5% interest rate for 3 years, how much simple interest do you earn?

Back

$150.

Front

What is the principal in a simple interest calculation?

Back

The initial amount of money invested or borrowed.

Front

How much simple interest is earned on $4,500 at 5.5% for 2 years?

Back

$495.

Front

Emilio borrows $1200 at 8% simple interest for 2 years. How much will he pay back?

Back

$1392.

Front

Rachel invests $2,700 at 7% for 2 years. What is her total amount?

Back

$3,078.

Front

Danielle earns a base salary of $450 and 9% commission on $895 in sales. How much does she earn?

Back

$530.55.