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Questions Per Quiz = 2 4 6 8 10

### MEAP Preparation - Grade 7 Mathematics1.116 Simple Interest

 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 _______.AmountRateInterestPrincipal Q 2: A=P+_?_IRLT Q 3: Find interest on \$75 for 9 months at the rate of 2 cents per month per dollar.\$15.30\$13.50\$14.40\$12.75 Q 4: 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\$410\$500\$590 Q 5: The extra money that is repaid to the lender in addition to the money borrowed is called _____.AmountPrincipalInterestExtra Q 6: Interest is ________ proportional to the principal, rate of interest and time period.notinverselydirectly Q 7: Amount = Principal + _____RatePrincipalLossInterest Q 8: The agreement between lender and borrower about interest to be calculated is called _______.PrincipalProfitInterestRate of Interest Question 9: This question is available to subscribers only! Question 10: This question is available to subscribers only!