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

Q 1: 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 $590 $500 $410

Q 2: Amount = Principal + _____ Rate Loss Principal Interest

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

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

Q 5: Interest is ________ proportional to the principal, rate of interest and time period. inversely not directly

Q 6: The total money which is repaid to the lender at the end of agreed time is called ___ Interest Principal Rate Amount (Total Amount)

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

Q 8: Find interest on $75 for 9 months at the rate of 2 cents per month per dollar. $14.40 $13.50 $15.30 $12.75

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