Simple & Compound Interest Quiz (20 Q's)

Simple & Compound Interest Quiz (20 Q's)

8th Grade

20 Qs

quiz-placeholder

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Simple & Compound Interest Quiz (20 Q's)

Simple & Compound Interest Quiz (20 Q's)

Assessment

Quiz

Mathematics

8th Grade

Hard

Created by

Amber Hawkins

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Emilio deposits $500 into a savings account that earns a simple interest rate of 4% per year. If he leaves the money in the account for 3 years, how much interest will he earn?

$60

$50

$40

$30

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A bank offers a simple interest rate of 6% per year. If Alexis deposits $1,200 into the account for 5 years, how much interest will she earn?

$360

$300

$420

$480

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A loan earns $250 in simple interest over 4 years at a rate of 5% per year. What was the original amount of the loan?

$1,250

$1,000

$1,500

$1,750

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Miguel invested money in an account that earns simple interest. After 6 years at an interest rate of 3%, he earned $180 in interest. How much money did he originally invest?

$1,000

$900

$800

$700

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A student takes out a loan of $2,000 and pays $300 in simple interest after 3 years. What was the annual interest rate on the loan?

5%

4%

6%

3%

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A savings account earns $400 in interest over 8 years. If the initial deposit was $2,500, what was the simple interest rate?

2%

1.5%

2.5%

3%

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A loan of $900 earns $315 in interest at a rate of 7% per year. How many years did it take to earn this interest?

5 years

4 years

6 years

3 years

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