
Question 1 
Ryan deposited $2,000 in a saving account at the interest rate of 4% per year. How much simple interest will he earn in 5 years? 
A.  $800  B.  $1,000 
C.  $450  D.  $400 
 
  

Question 2 
Garcia borrowed $4,000 from his cousin Susan at the rate of 8% per annum. He repaid the amount after two years. How much did he repay?

A.  $640  B.  $6,640 
C.  $4,640  D.  $3,360 
 
  

Question 3 
Tracy put $3,500 into an investment yielding 4.5% annual interest. She left the money in for 8 years. How much interest does she get in those 8 years?

A.  $1,260  B.  $4,760 
C.  $2,240  D.  $1,860 
 
  

Question 4 
Anna invested $2,500 at an annual rate of 5%. How long will it take until Anna earns $1,125 in interest?

A.  5 years  B.  8 years 
C.  10 years  D.  9 years 
 
  

Question 5 
Jerry invested $1500 in an account that paid him 8.25% simple interest, what will the balance of his account be after 6 years? 
A.  $742.50  B.  $2242.50 
C.  $2150  D.  $3256.55 
 
  


Question 6 
Mr. Peterson wrote a check of $7,820 to pay off a loan, which was given to him at a rate of 5% simple interest for 3 years. How much money did he borrow originally?

A.  $5,400  B.  $6,800 
C.  $3,240  D.  $14,620 
 
  

Question 7 
If $3,840 is invested in an account at 5% annual simple interest, how long will it take the account balance to grow to $4,800? 
A.  12 years  B.  6 years 
C.  5 years  D.  8 years 
 
  

Question 8 
Principal (p) = 1500, Rate (r) = 7%, Time (t) = 8 years. Calculate the Interest. 
A.  $840  B.  $1200 
C.  $2,340  D.  $660 
 
  

Question 9 
Jack deposited $1400 in his bank account. After 3 years, the account is worth $1,694. Find the simple interest rate the account earned. 
A.  5%  B.  8% 
C.  7.25%  D.  7% 
 
  

Question 10 
Principal = 360, Interest = $17.55, Time = 9 months. Calculate the Interest Rate. 
A.  6%  B.  7.65% 
C.  6.5%  D.  5.5% 
 
  
