Simple Interest - Practice

Find the interest

p= $34,100

r = 4%

t = 3 years

• 4092

• 40920

• 4324

• 3254

Maria borrowed $3,000 at a simple interest rate of 4% per year.  How much Interest, did she have to repay after 4 years?

• $480

• $3,480
• $4,800
• $780

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

• 95
• 105
• 125
• 135

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

• $7.50
• $26.25
• $87.5
• $262.50

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

Marcus plans to deposit $20,000 into a savings account.

Bedford Bank offers a rate of 4% simple interest for five years. How much interest is earned?

• $2460

• $4000

• $5204

• $4094

Mrs. Adele is buying a new tie from Macy's. It says the tie costs $20.00 but there is a sign above it that says 25% off. How much will the tie cost?

• $5.00

• $18.75

• $15.25

• $15.00

Jessica borrowed $500 from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $70. As a percentage, what was the annual interest rate of her loan?

Match the following

• Principle (P)

• 70

• rate (r)

• 500

• time (t)

• 2

• Interest (I)

• Unknown

Jessica borrowed $500 from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $70. As a percentage, what was the annual interest rate of her loan?

Match the following

• rate (r)

• Unknown

• Interest (I)

• 500

• Principle (P)

• 70

• time (t)

• 2

Jessica borrowed $500 from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $70. As a percentage, what was the annual interest rate of her loan?

Match the following

• Principle (P)

• 2

• rate (r)

• 500

• time (t)

• Unknown

• Interest (I)

• 70