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Final Exam Gen Math

Quiz by Arvin Gara

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30 questions
Show answers
  • Q1

    What is the formula for calculating simple interest?

    I = PRT

    I = P / (RT)

    P = I + RT

    P=I / (RT)

    60s
  • Q2

    If the principal is $500, the interest rate is 8%, and the time is 2 years, what is the simple interest?

    $40

    $80

    $10

    $20

    30s
  • Q3

    If the simple interest is $75, the principal is $1,500, and the time is 3 years, what is the interest rate?

    4%

    3%

    2%

    5%

    30s
  • Q4

    How is the principal calculated in the simple interest formula?

    P = I / (RT)

    P = I / T

    P = I - RT

    P = I / R

    30s
  • Q5

    If the principal is $2,000, the interest rate is 6%, and the interest is $240, what is the time?

    3 years

    5 years

    4 years

    2 years

    30s
  • Q6

    What is the total amount (principal + interest) after 4 years for a $800 principal with a 5% interest rate?

    $960

    $840

    $760

    $820

    30s
  • Q7

    If the time is 5 years, the interest is $120, and the principal is unknown, what is the principal?

    $240

    $220

    $250

    $340

    30s
  • Q8

    If the principal is $1,200, the interest rate is 3%, and the time is 2 years, what is the simple interest?

    $72

    $36

    $24

    $18

    30s
  • Q9

    What is the formula for calculating the total amount (A) in the context of simple interest?

    A = P + (PRT)

    A = P - I

    A = P(1 + RT)

    A = P + I

    30s
  • Q10

    If the principal is $2,500, the interest rate is 4%, and the time is 3 years, what is the total amount?

    $2,840

    $2,720

    $2,640

    $2,580

    30s
  • Q11

    If the simple interest is $45, the interest rate is 9%, and the time is 2 years, what is the principal?

    $200

    $250

    $150

    $300

    30s
  • Q12

    What happens to the simple interest if the principal increases?

    Depends on the interest rate

    Increases

    Decreases

    Stays the same

    30s
  • Q13

    If the principal is $1,000, the time is 4 years, and the total amount is $1,200, what is the interest?

    $80

    $100

    $160

    $120

    30s
  • Q14

    If the interest rate is 6%, the time is 3 years, and the total amount is $1,800, what is the principal?

    $1,600

    $1,700

    $1,800

    $1,500

    30s
  • Q15

    What is the time if the principal is $1,500, the interest rate is 5%, and the interest is $75?

    2 years

    4 years

    5 years

    3 years

    30s

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