Directions: Answer the following qustions. Also write at least five examples of your own.

Q 1: Find interest on $75 for 9 months at the rate of 2 cents per month per dollar. $13.50 $15.30 $14.40 $12.75

Q 2: A=P+_?_ L R I T

Q 3: The extra money that is repaid to the lender in addition to the money borrowed is called _____. Principal Amount Extra Interest

Q 4: A person borrowed $500 at the rate of 3 cents per month per dollar and repaid the amount after 6 months. How much did he repay? $500 $410 $545 $590

Q 5: Interest is ________ proportional to the principal, rate of interest and time period. inversely not directly

Q 6: The agreement between lender and borrower about interest to be calculated is called _______. Profit Rate of Interest Interest Principal

Q 7: The interest per $100 per year is called ____. Amount Principal Profit Rate of Interest

Q 8: The amount of money one borrow for his needs (or) one lends to others is called _______. Interest Rate Amount Principal

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