Simple Interest Quiz
1.
What is 20% as a fraction?
A
one fifth
B
one quarter
C
one third
2.
What is 25% as a fraction?
A
one tenth
B
one quarter
C
one third
3.
How many years is 18 months?
A
1.8
B
1.5
C
1.2
4.
How many years is 3 months?
A
3
B
0.5
C
0.25
5.
Rachel has a loan of $5000 at 10% p.a. simple interest over 3 years. What is the interest to be repaid?
A
$1500
B
$500
C
$150
6.
How much does Rachel (in Question 5) repay altogether?
A
$5000
B
$5150
C
$6500
7.
If Rachel (in Questions 5 and 6) repays the loan weekly, how much is each repayment?
A
$41.67
B
$17.16
C
$23.70
8.
Stefan borrows $4000 at 5% p.a. flat interest over 6 months. How much is the interest?
A
$120000
B
$1200
C
$100
9.
Leanne borrows $2000 at 2% p.a. flat interest over 18 months. How much is the interest?
A
$6000
B
$60
C
$72
10.
Fiona borrows $1000 at 2% p.a. flat interest over 3 years. How much is repaid altogether?
A
$1060
B
$1000
C
$600
Your Answers
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Q 5:
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Q 9:
Q10:
Correct Answers
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Q10:
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