Simple interest

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

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

What does the "I" in the interest formula stand for?

• It

• Interest

• the Headless Iron Man

• Ignoramus

Tags

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Aiman borrowed RM4,000 for 5 years at 6% simple interest rate to pay for his band equipment. How much interest is that?

• RM800

• RM1,000

• RM1,200

• RM1,500

Jerry save RM5000 for 5 years at 6% simple interest rate. What will the value of Jerry's account be after 5 years?

• RM5200

• RM 6000

• RM 6500

• RM 5500

Emili borrows RM1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?

• RM1500

• RM192

• RM1350

• RM1392

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.8.EE.C.7B

You lend RM240 to your friend. He pays you back RM270. What interest rate did you charge your friend?

• 88%

• 20%

• 12.5%

• 10%

Anna invested RM2,500 at an annual rate of 5%. How long will it take until Anna earns RM1,125 in interest?

• 5 years

• 8 years

• 10 years

• 9 years

Sarah borrowed RM20,000 from two money lenders. She has to pay simple interest of 12% per annum for one of the loan and 14% per annum for the other. After one year, she paid the total of RM2560 as interest. How much did she borrow at respective rate?

• 12%= RM 12000 14% =RM8000

• 12% =RM10000 14% =RM 10000

• 12% =RM 15000 14% =RM 5000

• 12%=RM 9000 14% =RM 11000