What is simple interest?
MAP Review - Day 1 - NS & RP

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Mathematics
•
7th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
Simple interest is calculated using the formula: I = PRT, where I is the interest, P is the principal amount (initial loan), R is the rate of interest per year, and T is the time in years.
2.
FLASHCARD QUESTION
Front
How do you calculate the total interest paid on a loan?
Back
Total interest can be calculated using the formula: Total Interest = Principal × Rate × Time.
3.
FLASHCARD QUESTION
Front
If a loan has a 5% interest rate and the total interest paid is $2,375, how do you find the principal?
Back
Rearrange the simple interest formula: Principal = Total Interest / (Rate × Time). For this case: Principal = 2375 / (0.05 × 5) = $9,500.
4.
FLASHCARD QUESTION
Front
What is the average cost of gasoline if it decreases by $0.94 and then $0.27, and increases by $0.36?
Back
Start with the initial cost ($3.34), subtract $0.94, then $0.27, and finally add $0.36. The final average cost is $2.49.
5.
FLASHCARD QUESTION
Front
How do you find the total distance traveled if you know the rate and time?
Back
Distance = Rate × Time. If Ariele hikes down 55 feet in 2.75 minutes, find the rate per minute and multiply by the total time.
6.
FLASHCARD QUESTION
Front
What is the relationship between percentages and fractions?
Back
Percentages can be converted to fractions by dividing by 100. For example, 65% = 65/100 = 13/20.
7.
FLASHCARD QUESTION
Front
How do you calculate the number of students who like sports from a percentage?
Back
Multiply the total number of students by the percentage (in decimal form). For example, for 80 classmates and 65%, it's 80 × 0.65 = 52 students.
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