Simple Interest, Percent Change, Percent Error

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

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

• $150

• $192

• $1350

• $1392

Tickets to Disney World are $100.The price is going to increase on January 1. What is the percent of change if the cost increases to a $120?

• 25%

• 18%

• 20%

• 50%

The number of people signed up for a bus trip increased from 32 to 45. What is the percent increase? Round to the nearest percent.

• 52%

• 41%

• 42%

• 45%

John put 14,000 Euros in an account at a simple interest rate of 1% per year.  How much interest will he get after 12 years?

• 16,800 Euros

• 168,000 Euros

• 1,680 Euros

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

• $800

• $1,000

• $1,200

• $1,500

Calculate the percent change from 50 to 75.

• 25%

• 50%

• 75%

• 100%

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

What is the percent change when a quantity increases from 100 to 150?

• 25%

• 50%

• 75%

• 100%

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest will he pay?

• $800

• $1,000

• $1,200

• $1,500