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Online Quiz (Worksheet A B C D)

Questions Per Quiz = 2 4 6 8 10

Grade 6 - Mathematics
8.13 Simple Interest Word Problems

Directions: Answer the following qustions. Also write at least five examples of your own.
Q 1: A store owner borrowed an amount of $3,500 on 6th June, 1991 at the rate of 24% per annum and repaid it on 15th January, 1992. What is the amount he repaid?
$4103.35
$5403.42
$4013.21
$3780.35

Q 2: Principal = $1,500, Rate = 36%, and Time = 26-2-1991 to 8-7-1991, find the total amount.
$1690.76
$1635.50
$1695.29
$1650.32

Q 3: Karen deposited an amount of $5,000 as a certificate of deposit (CD) in a bank for a period of 3 years. The CD pays a simple interest of 15% per year and pays interest every 6 months. How much interest does she get every 6 months?
$5375
$540
$3375
$375

Q 4: Jason deposited $1,000 in a bank account that gave an interest of 5% per annum. Interest is calculated every 6 months and added to the principal. Interest for next 6 months is calculated on the total amount. How much does he get after 1 year?
$1005.35
$1243.78
$1500.45
$1050.63

Q 5: An employee borrowed $900 form a money lender at the rate of 18% per annum and repaid it after 9 months. How much did he repay?
$1045.00
$1221.50
$1021.50
$918.00

Q 6: Bob borrowed $5,000 from a bank at the rate of 18% per year. He lent $3,000 to a friend at the rate of 24% per year and $2,000 to another friend at the rate of 36% per year. How much profit would he earn in 2 years?
$2081
$1080
$500
$2450

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Question 8: This question is available to subscribers only!


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