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- 1. Multiple Choice
Calculate the simple interest received when $7000 is invested for 2 years at 5% p.a.
$750
$350
$700
$640
- 2. Fill in the Blank
Calculate the simple interest received when $12 000 is invested for 4 years at 3% p.a.
- 3. Fill in the Blank
Ann puts $300 in a bank account earning 4% interest. How much interest will she earn in 1 year?
- 4. Multiple ChoiceStarting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?$7.50$26.25$87.5$262.50 - 5. Multiple Choice
Calculate the total amount to which $5500 will grow in 4 years if invested at 4.5% p.a. simple interest.
*Remember: Amount = I + P
$990
$6490
$5990
$5747.50
- 6. Fill in the Blank
Calculate the total amount to which $9000 will grow in 3 years if invested at 6.5% p.a. simple interest.
*Remember: Amount = I + P
- 7. Fill in the Blank
Calculate the total amount to which $20 000 will grow in 5 years if invested at 4% p.a. simple interest.
- 8. Multiple Choice
If Nicholas invests $13 500 at 7.4% p.a. simple interest, how much will he have in total in 4 years time?
(Remember: A = I + P)
$17 280
$3780
$3996
$17 496
- 9. Fill in the Blank
A finance company charges 14% p.a. simple interest. If Lynne borrows $2000 to be repaid over 2 years, calculate the total amount owing.
- 10. Multiple Choice
Wendy wins $5000 during a chess tournament. She wishes to invest her winnings, and has the two choices given below. Which one gives her the greater total at the end of the time?
Choice 1: 8.5% p.a. simple interest for 4 years
Choice 2: 8% p.a. simple interest for 54 months
(HINT: turn this into years first!)
Choice 1
Choice 2
- Answer choicesTagsAnswer choicesTags