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

Q 1: Amount = Principal + _____ Interest Principal Rate Loss

Q 2: The extra money that is repaid to the lender in addition to the money borrowed is called _____. Principal Interest Extra Amount

Q 3: Find interest on $75 for 9 months at the rate of 2 cents per month per dollar. $15.30 $13.50 $12.75 $14.40

Q 4: A=P+_?_ T L I R

Q 5: The total money which is repaid to the lender at the end of agreed time is called ___ Rate Amount (Total Amount) Principal Interest

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

Q 7: 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? $410 $545 $590 $500

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

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