# Simple Interest

## Quiz by Leonie Landicho

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4 questions

Show answers

- Q1
It is the exact amount invested/deposited or borrowed.

Principal Amount

Interest Rate

Time

Interest

45s - Q2
How is Simple Interest computed?

I = P + R + T

I = P + ( R x T )

I = P x R x T

I = P x (R ÷ T)

45s - Q3
Mr. De Castro borrowed ₱10 000 from a cooperative at a 7.5% interest for 2 years. How much interest must he pay? Which of the following equations will solve the problem?

₱10 000 x 0.075 x 2 = N

₱10 000 + ( P10 000 x 7.5 x 2 ) = N

₱10 000 x 7.5 x 2 = N

₱10 000 + ( P10 000 x 0.075 x 2 ) = N

45s - Q4
Determine the interest for ₱950.00 for 6 months at 4% annually.

₱18

₱19

₱20

₱21

120s