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Online Quiz (Worksheet A B C D)

Questions Per Quiz = 2 4 6 8 10

Grade 6 - Mathematics
8.13 Simple Interest Word Problems

Directions: Answer the following qustions. Also write at least five examples of your own.
Q 1: Principal = $1,500, Rate = 36%, and Time = 26-2-1991 to 8-7-1991, find the total amount.
$1650.32
$1695.29
$1690.76
$1635.50

Q 2: Paul had a credit card balance of $10,000 which carried a finance charge of 24% per annum. After 2 years, he won $18,000 in a lottery and paid off the credit card balance. After paying off the debt, how much money did he have?
$5,000
$4,600
$3,200
$8,000

Q 3: Bob borrowed $5,000 from a bank at the rate of 18% per year. He lent $3,000 to a friend at the rate of 24% per year and $2,000 to another friend at the rate of 36% per year. How much profit would he earn in 2 years?
$1080
$500
$2081
$2450

Q 4: John deposited $15,000 in a savings account that paid an interest of 12% per annum. The interest is calculated every 6 months and added to the principal. How much does he get after 1 and 1/2 years?
$17,865.24
$18,875.50
$15,354.45
$16,875.74

Q 5: A store owner borrowed an amount of $3,500 on 6th June, 1991 at the rate of 24% per annum and repaid it on 15th January, 1992. What is the amount he repaid?
$4103.35
$3780.35
$4013.21
$5403.42

Q 6: An employee borrowed $900 form a money lender at the rate of 18% per annum and repaid it after 9 months. How much did he repay?
$918.00
$1221.50
$1021.50
$1045.00

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