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| Question 1 |
| Ryan deposited $2,000 in a saving account at the interest rate of 4% per year. How much simple interest will he earn in 5 years? |
| A. | $800 | B. | $1,000 |
| C. | $450 | D. | $400 |
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| Question 2 |
| Garcia borrowed $4,000 from his cousin Susan at the rate of 8% per annum. He repaid the amount after two years. How much did he repay?
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| A. | $640 | B. | $6,640 |
| C. | $4,640 | D. | $3,360 |
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| Question 3 |
| Tracy put $3,500 into an investment yielding 4.5% annual interest. She left the money in for 8 years. How much interest does she get in those 8 years?
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| A. | $1,260 | B. | $4,760 |
| C. | $2,240 | D. | $1,860 |
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| Question 4 |
| Anna invested $2,500 at an annual rate of 5%. How long will it take until Anna earns $1,125 in interest?
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| A. | 5 years | B. | 8 years |
| C. | 10 years | D. | 9 years |
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| Question 5 |
| Jerry invested $1500 in an account that paid him 8.25% simple interest, what will the balance of his account be after 6 years? |
| A. | $742.50 | B. | $2242.50 |
| C. | $2150 | D. | $3256.55 |
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| Question 6 |
| Mr. Peterson wrote a check of $7,820 to pay off a loan, which was given to him at a rate of 5% simple interest for 3 years. How much money did he borrow originally?
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| A. | $5,400 | B. | $6,800 |
| C. | $3,240 | D. | $14,620 |
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| Question 7 |
| If $3,840 is invested in an account at 5% annual simple interest, how long will it take the account balance to grow to $4,800? |
| A. | 12 years | B. | 6 years |
| C. | 5 years | D. | 8 years |
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| Question 8 |
| Principal (p) = 1500, Rate (r) = 7%, Time (t) = 8 years. Calculate the Interest. |
| A. | $840 | B. | $1200 |
| C. | $2,340 | D. | $660 |
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| Question 9 |
| Jack deposited $1400 in his bank account. After 3 years, the account is worth $1,694. Find the simple interest rate the account earned. |
| A. | 5% | B. | 8% |
| C. | 7.25% | D. | 7% |
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| Question 10 |
| Principal = 360, Interest = $17.55, Time = 9 months. Calculate the Interest Rate. |
| A. | 6% | B. | 7.65% |
| C. | 6.5% | D. | 5.5% |
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