Mathematical Literacy - Grade 11 - Lesson 31 - Quizizz

Mathematical Literacy - Grade 11 - Lesson 31 - Quizizz

11th Grade

5 Qs

quiz-placeholder

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Mathematical Literacy - Grade 11 - Lesson 31 - Quizizz

Mathematical Literacy - Grade 11 - Lesson 31 - Quizizz

Assessment

Quiz

Mathematics

11th Grade

Medium

Created by

Woodridge Connect

Used 1+ times

FREE Resource

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Define the word interest by choosing the most suited answer below.

The amount of money that is always calculated at 10%.

The amount of money earned or owed for the use of borrowed money.

The word interest means per year.

Interest is the extra R500 that gets deposited into your account

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The formula used to calculate simple interest is:

SI = i × n

SI = p × n × i

SI = p × i × n

SI = i × n x p

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If Peter invests R1,000.00 at 8% simple interest per annum (per year).

How much interest does he earn after 10 years?

808080

88 000

8000

80 000

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If Peter invests R1,000.00 at 8% simple interest per annum (per year).

How much interest does he earn after 10 years?

81 000

82 000

83 000

84 000

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the 'i' represent in the simple interest formula?

The inside rate.

The interest rate being used (% per annum).

The interesting rate being used (% per annum).

The indigo rate.