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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Calculate the Simple Interest on $1,200 at a rate of 3% for 4 years.
💡 Hint: Use the formula SI = P × R × T / 100.
Question 2
Easy
What is the Simple Interest on $800 at 5% for 2 years?
💡 Hint: Remember to multiply the principal by the rate and time.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What formula is used to calculate Simple Interest?
💡 Hint: Remember the terms Principal, Rate, and Time.
Question 2
If the principal amount is $1,000 and the rate is 5% for 2 years, what is the Simple Interest?
- $50
- $100
- $200
💡 Hint: Use the SI formula!
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
An investor puts $10,800 in a savings account earning 5% Simple Interest. Calculate the interest earned after 6 years and the total amount in the account.
💡 Hint: Calculate the SI first and then add it to the principal for total.
Question 2
If a loan of $4,500 is taken at a rate of 10% for 8 years, what will the total repayment amount be?
💡 Hint: Find the interest accrued and remember to add it to the original loan amount.
Challenge and get performance evaluation