kwizNET Subscribers, please login to turn off the Ads!
Email us to get an instant 20% discount on highly effective K-12 Math & English kwizNET Programs!

Online Quiz (Worksheet A B C D)

Questions Per Quiz = 2 4 6 8 10

MEAP Preparation - Grade 7 Mathematics
1.118 Simple Interest Word Problems

Directions: Answer the following qustions. Also write at least five examples of your own.
Q 1: 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?

Q 2: Paul had a credit card balance of $10,000 which carried a finance charge of 24% per annum. After 2 years, he won $18,000 in a lottery and paid off the credit card balance. After paying off the debt, how much money did he have?

Q 3: Principal = $1,500, Rate = 36%, and Time = 26-2-1991 to 8-7-1991, find the total amount.

Q 4: 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?

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?

Q 6: 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?

Question 7: This question is available to subscribers only!

Question 8: This question is available to subscribers only!

Subscription to kwizNET Learning System offers the following benefits:

  • Unrestricted access to grade appropriate lessons, quizzes, & printable worksheets
  • Instant scoring of online quizzes
  • Progress tracking and award certificates to keep your student motivated
  • Unlimited practice with auto-generated 'WIZ MATH' quizzes
  • Child-friendly website with no advertisements
  • Choice of Math, English, Science, & Social Studies Curriculums
  • Excellent value for K-12 and ACT, SAT, & TOEFL Test Preparation
  • Get discount offers by sending an email to

Quiz Timer