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

Q 1: The agreement between lender and borrower about interest to be calculated is called _______. Rate of Interest Principal Profit Interest

Q 2: The interest per $100 per year is called ____. Rate of Interest Amount Principal Profit

Q 3: A=P+_?_ I R L T

Q 4: Interest is ________ proportional to the principal, rate of interest and time period. directly not inversely

Q 5: Find interest on $75 for 9 months at the rate of 2 cents per month per dollar. $14.40 $12.75 $15.30 $13.50

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 $410 $500 $590

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

Q 8: The total money which is repaid to the lender at the end of agreed time is called ___ Rate Amount (Total Amount) Interest Principal

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Question 10: This question is available to subscribers only!