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This is a SAMPLE test for Grade: 7, Subject: Math |
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Test Topic(s):
Simple Interest |
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| Question 1:
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| Andrew borrowed $1500 for 6 months at 8.5% annual simple interest, how much will he repay at the end of the 6-month period? |
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| Question 2:
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| Which is the best investment? |
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| Question 3:
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| What principal must Mr. Harris put in the bank today to earn $285 simple interest in 2 years if the simple interest rate is 4.75%?
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| Question 4:
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| You deposit $5,000 in an account that earns 6.25% simple interest. How many years will it take your account balance to reach $7,500? |
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| Question 5:
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| Matthew deposited $4,000 in an account. What simple interest rate must he get to have $8,080 in his account in 12 years? |
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| Question 6:
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Find the missing value.
P = 600, I = 456, r = ?, t = 8 years |
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| Question 7:
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| Daniel deposited $3,000 in an account. How many years will it take his money to double at a simple interest rate of 10%? |
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| Question 8:
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| Brian invested $800 at 5% simple interest rate. How many years will it take his money to reach $1000?
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| Question 9:
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| Mary borrowed $500 at 5% simple interest. The total interest payable over the period of the loan is $50. How many years will it take her to repay the loan?
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| Question 10:
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I = 56.55, r = 6.5%, t = 3 years
P = ? |
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