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Mathematics
6th -
8thgrade
Simple Interest, Taxes, Tips, and Commissions
20 questions
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- 1. Multiple ChoiceThe simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.the amount of money borrowed or depositedthe percent interest for his yearthe amount taxedthe amount the bank owes you for being a customer at their bank
- 2. Multiple ChoiceThe simple interest formula is I=Prt. What does the t represent?PrincipleInterestTimePercent Rate
- 3. Multiple ChoiceIf you are calculating the simple interest and you are given the time in months. How can you find the time in years?divide 12 by the monthsdivide the months by 12multiply 12 times the monthschange the months to a decimal
- 4. Multiple ChoiceAnn puts $300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?481216
- 5. Multiple ChoiceWrite the percent as a decimal.
43%4.3.43.0434300 - 6. Multiple ChoiceWhat is 7.25% converted to a decimal?.7250.7250.07257.25
- 7. Multiple ChoiceA bank is offering 2.5% simple interest on a savings account. If you deposit $5,000, what will be the total amount of money in your savings account after three years?$375$42,500$5,375$37,500
- 8. Multiple ChoiceSarah borrowed $18,000 for 4 years at an annual simple interest rate of 7%. What is the total amount she will repay for the car loan?$504,000$5,040$23,040$18,000
- 9. Multiple ChoiceJerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?$800$1,000$1,200$1,500
- 10. Multiple ChoiceWhat is 0.02 as a percent?20%2%0.2%200%
- 11. Multiple ChoiceA sweater costs $39.99. Which option offers the best price for the sweater$10 off and then 5% off40% coupon$15 off couponSale price of $27.99
- 12. Multiple ChoiceA pair of headphones costs $59.99. Which option offers the best price for the headphones?$25 off coupon40% coupon$15 off couponSale price of $27.99
- 13. Multiple ChoiceRalph buys a computer for $675. The sales tax rate is 6%. How much did Ralph pay for the computer?40.50715.506.00634.50
- 14. Multiple ChoiceSales tax is __________ to the pricesubtractedaddedmultiplieddivided
- 15. Multiple ChoiceDiscount is ____________ from the price.addeddividedsubtractedmulitipled
- 16. Multiple ChoiceA pair of jeans costs $34.00. You have a coupon for 30% off the regular price. What is the new price of the jeans after you use your coupon?$10.20$23.80$31.00$44.20
- 17. Multiple ChoiceWhat does the "I" in the interest formula stand for?InsuranceInterestInvestmentIce
- 18. Multiple ChoiceWhat does the "r" in the interest formula stand for?reviewrecallraterollover
- 19. Multiple ChoiceMaria borrowed $3,000 for college tuition at a simple interest rate of 4% per year. How much did she have to repay after 4 years?$480$3,480$4,800$7,800
- 20. Multiple ChoiceThe rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a ______.fractiondecimalratiodollar amount
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