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

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

Q 2: Interest is ________ proportional to the principal, rate of interest and time period. not directly inversely

Q 3: 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? $500 $590 $545 $410

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

Q 5: Amount = Principal + _____ Principal Rate Loss Interest

Q 6: Find interest on $75 for 9 months at the rate of 2 cents per month per dollar. $13.50 $14.40 $12.75 $15.30

Q 7: The agreement between lender and borrower about interest to be calculated is called _______. Rate of Interest Principal Interest Profit

Q 8: A=P+_?_ R T L I

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