Simple Interest

What is the formula for calculating simple interest?

• I = P * r * t

• I = P + r + t

• I = P - r - t

• I = P / r / t

Tags

CCSS.7.RP.A.3

If the principal amount is $5000, the interest rate is 5%, and the time period is 3 years, what is the simple interest?

• $800

• $900

• $600

• $750

Tags

CCSS.7.RP.A.3

If the simple interest for 2 years at 8% is $640, what is the principal amount?

• $2000

• $3000

• $5000

• $4000

Tags

CCSS.7.RP.A.3

What happens to the simple interest when the time period increases?

• Becomes negative

• Increases

• Remains constant

• Decreases

Tags

CCSS.7.RP.A.3

If the principal amount is $3000, the interest rate is 10%, and the simple interest is $450, what is the time period?

• 1.5 years

• 3 years

• 1 year

• 2 years

Tags

CCSS.7.RP.A.3

If the principal amount is $8000, the interest rate is 6%, and the time period is 5 years, what is the total amount after 5 years?

• $9000

• $10400

• $11000

• $12000

Tags

CCSS.7.RP.A.3

If the simple interest for 3 years at 12% per year is $720, what was the principle?

• $2000

• $1000

• $1500

• $2500

Tags

CCSS.7.RP.A.3