Calculate Interest Rate

Calculate Interest Rate

7th Grade

32 Qs

quiz-placeholder

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Calculate Interest Rate

Calculate Interest Rate

Assessment

Quiz

Mathematics

7th Grade

Hard

Created by

Barbara White

FREE Resource

32 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image
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

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image
What does the "I" in the interest formula stand for?
Important
Interest
Internet
Igloo

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Media Image

principle = $350.

Interest rate = 5%

TIme = 3 years.

How much interest?

$7.50

$26.25

$87.5

$52.50

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Calculate the interest. I = PRT,

Principal = $1000,

Rate = 6%,

Time = 2 years

$100

$120

$180

1200

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image
Calculate the interest.  I = PRT,
Principal = $10000,
Rate = 7%,
Time = 20 years

1400
1000
14000
14

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image
Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?
$800
$1,000
$1,200
$1,500

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

The simple interest formula is I=Prt. The P represents the principal. The principal is ___________________.

the amount of money

the percent interest for his year

the rate

the percent proportion

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