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

Q 1: The interest per $100 per year is called ____. Amount Profit Rate of Interest Principal

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

Q 3: The agreement between lender and borrower about interest to be calculated is called _______. Principal Interest Rate of Interest Profit

Q 4: The extra money that is repaid to the lender in addition to the money borrowed is called _____. Amount Interest Principal Extra

Q 5: A=P+_?_ R T I L

Q 6: 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? $545 $500 $590 $410

Q 7: The amount of money one borrow for his needs (or) one lends to others is called _______. Rate Interest Amount Principal

Q 8: Interest is ________ proportional to the principal, rate of interest and time period. inversely directly not

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