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Simple Interest
Tests
Test 1
Test 2
Test 3
Test 4
Test 5
Test 6
Test 7
Test 8
Test 9
Test 10
Sample
Simple Interest [Test 1]
1)
Matt's current bank balance is $9,600.00. Bank offers a simple interest with monthly rate of 1.67 %. Interest earned is computed and deposited every
years. What was the bank balance
years ago?
$
2)
Jasmine's current bank balance is $199,092.00. Bank offers a simple interest with monthly rate of 1.92 %. Interest earned is computed and deposited every
years. What was the bank balance
years ago?
$
3)
Matt's current bank balance is $70,272.00. Bank offers a simple interest with monthly rate of 1.00 %. Interest earned is computed and deposited every
years. What was the bank balance
years ago?
$
4)
George lended $111,600.00 to a friend with anual interest rate of 15.00 %. What is the total amount George will receive after 7 months. The interest is computed as simple interest and is not compunded.
$
5)
Max borrowed $27,600.00 from the bank with anual interest rate of 12.00 %. What would be the total amount that Max need to pay after 6 years.
$
6)
A local bank offers a fix deposit scheme with maturity of 8 years and monthly interest rate of 1.83 %. Interest is computed only once at the maturity date as a simple interest. Mr. B deposited $96,000.00 in that scheme. How much interest money would Mr. B earn?
$
7)
Matt lended $104,400.00 to a friend with anual interest rate of 15.00 %. What is the total amount Matt will receive after 3 months. The interest is computed as simple interest and is not compunded.
$
8)
Jacob borrowed $108,000.00 from the bank with anual interest rate of 5.00 %. What would be the total amount that Jacob need to pay after 7 years.
$
9)
Mr. B received a total of $17,280.00 from the bank. The bank paid the simple interest with yearly rate of 10.00 %. How many years ago did Mr. B deposited $9,600.00?
10)
Val received a total of $95,040.00 from the bank. The bank paid the simple interest with yearly rate of 20.00 %. How many years ago did Val deposited $39,600.00?