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Simple Interest

Calculation of simple interest, amount, principal, rate and time are covered in this topic. The topic also covers some real life problems.
Practice Question
1

Find the missing value:

I =?, P = $ 300, r = 5%, t = 2 years

 
Possible Answers
Your Answer
Correct Answer
A)

$ 40
B)

$ 300
C)

$ 30
D)

$ 22
Practice Question
2

Find the missing value:

I = $ 120, P =? , r = 5%, t = 3 years

 
Possible Answers
Your Answer
Correct Answer
A)

$ 800
B)

$ 400
C)

$ 200
D)

$ 860
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