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

Q 1: Interest is ________ proportional to the principal, rate of interest and time period. inversely directly not

Q 2: 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? $590 $500 $545 $410

Q 3: The interest per $100 per year is called ____. Amount Principal Profit Rate of Interest

Q 4: The total money which is repaid to the lender at the end of agreed time is called ___ Interest Principal Amount (Total Amount) Rate

Q 5: The agreement between lender and borrower about interest to be calculated is called _______. Rate of Interest Interest Profit Principal

Q 6: The amount of money one borrow for his needs (or) one lends to others is called _______. Amount Rate Principal Interest

Q 7: Find interest on $75 for 9 months at the rate of 2 cents per month per dollar. $15.30 $12.75 $14.40 $13.50

Q 8: The extra money that is repaid to the lender in addition to the money borrowed is called _____. Extra Principal Amount Interest

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Question 10: This question is available to subscribers only!