
Exploring Simple Interest Concepts

Interactive Video
•
Mathematics
•
6th - 10th Grade
•
Hard
Standards-aligned

Sophia Harris
FREE Resource
Standards-aligned
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the 'P' in the simple interest formula represent?
Percentage rate
Profit gained
Principal amount
Payment period
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the interest rate expressed in the simple interest formula?
As an integer
In decimal form
As a fraction
As a percentage
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the correct formula for calculating simple interest?
I = P + RT
I = PRT
I = PTR/100
I = (P + R)T
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If $580 is invested at a 3% interest rate for 5 years, how much simple interest is earned?
$29
$87
$58
$174
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the simple interest earned on a 6-month investment of $580 at a 3% annual rate?
$17.40
$87.00
$8.70
$8.75
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much total interest does Randall pay on a $6,300 loan over 2 years at a 6% interest rate?
$630
$1,512
$378
$756
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
After interest, how much does Randall end up paying for his $6,300 car loan?
$7,156
$6,300
$7,056
$6,956
Tags
CCSS.7.RP.A.3
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