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

Q 1: The amount of money one borrow for his needs (or) one lends to others is called _______. Principal Rate Amount Interest

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

Q 3: The extra money that is repaid to the lender in addition to the money borrowed is called _____. Extra Principal Amount Interest

Q 4: The interest per $100 per year is called ____. Rate of Interest Amount Profit Principal

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

Q 6: Amount = Principal + _____ Loss Interest Rate Principal

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? $500 $545 $590 $410

Q 8: The agreement between lender and borrower about interest to be calculated is called _______. Interest Profit Principal Rate of Interest

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