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Grade:
7
, Subject:
Math
, Topic:
Simple Interest
Question 1:
Andrew borrowed $1500 for 6 months at 8.5% annual simple interest, how much will he repay at the end of the 6-month period?
$63.75
$1436.25
$1563.70
$1563.75
Question 2:
Which is the best investment?
$2000 at 4.25% simple interest for 9 months
$1200 at 8.5% simple interest for 6 months
$1800 at 3.75% simple interest for 6 years
$800 at 5% simple interest for one years
Question 3:
What principal must Mr. Harris put in the bank today to earn $285 simple interest in 2 years if the simple interest rate is 4.75%?
$3,500
$3,000
$5,350
$1,800
Question 4:
You deposit $5,000 in an account that earns 6.25% simple interest. How many years will it take your account balance to reach $7,500?
8 years
12 years
9 years
5 years
Question 5:
Matthew deposited $4,000 in an account. What simple interest rate must he get to have $8,080 in his account in 12 years?
7.5%
8.25%
8.5%
12%
Question 6:
Find the missing value.
P = 600, I = 456,
r = ?
, t = 8 years
7.75%
9.25%
95%
9.5%
Question 7:
Daniel deposited $3,000 in an account. How many years will it take his money to double at a simple interest rate of 10%?
5 years
15 years
10 years
20 years
Question 8:
Brian invested $800 at 5% simple interest rate. How many years will it take his money to reach $1000?
4 years
5 years
2 years
20 years
Question 9:
Mary borrowed $500 at 5% simple interest. The total interest payable over the period of the loan is $50. How many years will it take her to repay the loan?
3 years
5 years
8 years
2 years
Question 10:
I = 56.55, r = 6.5%, t = 3 years
P = ?
$290
$255
$345
$198
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