1. What is the sum of money paid for the use of money?

GENERAL MATHEMATICS REVIEWER

Quiz
•
Others
•
11th Grade
•
Easy
Elgie Soria
Used 1+ times
FREE Resource
11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A. Interest
B. Principal
C. Final Amount
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2. What is the formula for calculating Principal of the simple interest?
A. 𝑃 =I/rt
B. 𝑃 = 𝐼𝑟t
C. 𝑃 = 1 + 𝑟
𝑡
D. 𝑃 =
𝐼𝑟 /t
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3. Which of the following formulas is derived from the formula of simple interest?
A. 𝑃 =
𝐼 / rt
B. 𝑃 = 𝐼𝑟𝑡
C. 𝐼 = 𝑃 1 + 𝑟
𝑡
D. 𝐼 = 𝑃 1 + 𝑛
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4. In simple interest, what does the term "rate" means?
A. It is the amount of interest earned.
B. It is the sum of money invested or borrowed.
C. It is the interest rate per year.
D. It is the total amount after interest is added.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5. What does the "Final Amount" in simple interest represent?
A. The initial amount of money invested
B. The period of investment
C. The percentage of the principal paid as interest each period
D. The sum of the principal and the interest
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
6. Calculate the simple interest on ₱ 14 000 for 3 years at a rate of 5% per year.
A. ₱ 1,050
B. ₱ 2,100
C. ₱ 3,500
D. ₱ 3,000
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
7. John invested ₱ 20,000 at an interest rate of 5% for 5 years.What is the simple interest he willearn?
A. ₱ 5000
B. ₱ 6000
C. ₱ 7000
D. ₱ 8000
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