1. Number and Algebra

Simple Interest — Quiz

Test your understanding of simple interest with 5 practice questions.

Practice Questions

Question 1

What is simple interest?

Question 2

Which formula gives the simple interest earned?

Question 3

A principal of $1000$ is invested at a simple interest rate of $5\%$ per year for $2$ years. How much interest is earned?

Question 4

A principal of $800$ is invested at a simple interest rate of $3\%$ per year. What is the total amount after $4$ years?

Question 5

In the formula $I = Prt$, what does $r$ represent?