Simple and compound interest

Simple and compound interest

7th Grade

21 Qs

quiz-placeholder

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Simple and compound interest

Simple and compound interest

Assessment

Quiz

Mathematics

7th Grade

Medium

CCSS.7.RP.A.3, TEKS.MATH.7.4D, CCSS.HSA.SSE.A.1

+17

Standards-aligned

Created by

Andrew Simmons

Used 146+ times

FREE Resource

21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.

the amount of money borrowed or deposited

the percent interest for his year

the amount taxed

the amount the bank owes you for being a customer at their bank

Tags

CCSS.7.RP.A.3

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

The simple interest formula is I=Prt. What does the t represent?

Principle

Interest

Time

Percent Rate

Tags

TEKS.MATH.8.8C

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?
$800
$1,000
$1,200
$1,500

Tags

CCSS.7.RP.A.3

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?
150
192
1350
1392

Tags

CCSS.7.RP.A.3

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

The simple interest formula is I=Prt. What does the t represent?

Principle

Interest

Time

Percent Rate

Tags

TEKS.MATH.7.4D

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image
The rate is given as a percent (%).  Before using it in the simple interest formula, you must first convert it to a______.
fraction
decimal
ratio
dollar amount

Tags

CCSS.7.RP.A.3

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image
Write the percent as a decimal. 
4.3%
4.3
.43
.043
4300

Tags

CCSS.7.NS.A.3

CCSS.7.RP.A.3

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