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

Q 1: The agreement between lender and borrower about interest to be calculated is called _______. Interest Principal Rate of Interest Profit

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

Q 3: A=P+_?_ L I R T

Q 4: The amount of money one borrow for his needs (or) one lends to others is called _______. Interest Principal Amount Rate

Q 5: 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? $590 $545 $410 $500

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

Q 7: Amount = Principal + _____ Principal Loss Interest Rate

Q 8: The interest per $100 per year is called ____. Amount Principal Profit Rate of Interest

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