Practice - Formula: I = P × R × T
Practice Questions
Test your understanding with targeted questions
What is the principal if you invest $1200 at an interest rate of 5% for 2 years?
💡 Hint: Remember, the principal is the initial amount you invest.
Calculate the interest for $800 at a rate of 4% for 1 year.
💡 Hint: Use the formula I = P × R × T.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What does ‘P’ stand for in the formula I = P × R × T?
💡 Hint: Think about what the starting amount is in an investment.
If your principal is $1500 at a rate of 4% for 2 years, how much interest would you earn?
💡 Hint: Use the formula correctly to solve.
1 more question available
Challenge Problems
Push your limits with advanced challenges
If a loan has an interest rate of 5% and you want to earn $300 in interest over 4 years, what principal amount did you take out?
💡 Hint: Think about what you need to solve for in the formula.
If the total amount after 3 years is $1,200 and the principal was $1,000, what was the rate of interest?
💡 Hint: Calculate the interest first to find the rate.
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Reference links
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