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

Q 1: Interest is ________ proportional to the principal, rate of interest and time period. not directly inversely

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

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

Q 4: The agreement between lender and borrower about interest to be calculated is called _______. Principal Profit Rate of Interest Interest

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? $410 $590 $500 $545

Q 6: The amount of money one borrow for his needs (or) one lends to others is called _______. Interest Amount Rate Principal

Q 7: The total money which is repaid to the lender at the end of agreed time is called ___ Principal Interest Rate Amount (Total Amount)

Q 8: The extra money that is repaid to the lender in addition to the money borrowed is called _____. Principal Extra Interest Amount

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