Simple Interest Practice

Simple Interest Practice

Assessment

Flashcard

Mathematics

6th Grade

Hard

Created by

Wayground Content

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

What is Simple Interest?

Back

Simple Interest is the interest calculated on the principal amount only, without compounding. It is calculated using the formula: SI = P * r * t, where P is the principal, r is the rate of interest, and t is the time in years.

2.

FLASHCARD QUESTION

Front

What is the formula for calculating Simple Interest?

Back

The formula for calculating Simple Interest (SI) is: SI = P * r * t, where P is the principal amount, r is the rate of interest (in decimal), and t is the time (in years).

3.

FLASHCARD QUESTION

Front

If you invest $350 at an interest rate of 2.5% for 3 years, how much interest will you earn?

Back

$26.25

4.

FLASHCARD QUESTION

Front

Olivia buys furniture for $7400 on credit with a 9.5% interest rate. How much interest will she pay after 8 years?

Back

$5,624

5.

FLASHCARD QUESTION

Front

Jack deposited $1,400 and earned $294 in interest after 3 years. What is the simple interest rate?

Back

7%.

6.

FLASHCARD QUESTION

Front

Emily’s parents put $1500 in her account at an 8.25% interest rate. What will be the interest after 18 years?

Back

$2,227.50

7.

FLASHCARD QUESTION

Front

Twelve years ago, Claire deposited $1,800 at 2.5% interest. How much interest did she earn?

Back

$540.

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