Definition
"What is simple interest?"
A. Money earned or paid that is added to the original amount plus past interest
B. Money earned or paid only on the original amount borrowed or saved
C. Money given for free by the bank
D. Money subtracted from your savings every month
B. Money earned or paid only on the original amount borrowed or saved
"How do you find the simple interest on money saved or borrowed?"
A. Multiply the principal by the rate and the time
B. Add the principal and the rate only
C. Divide the rate by the time
D. Subtract the principal from the total amount
A. Multiply the principal by the rate and the time
"Liam deposits ₱3,000 in a bank that gives 4% simple interest per year. How much interest will he earn in 2 years?"
a. ₱120 b. ₱200
c. ₱240 d. ₱ 300
c. ₱240
"Ella borrowed ₱5,000 to buy grocery items for her family who was affected by the earthquake. He borrowed it at an 8% simple interest per year. After 6 months, how much interest will she pay?"
a. ₱200 b. ₱250
c. ₱300 d. ₱400
a. ₱200
"A grocery store lends ₱10,000 to a loyal customer after a disaster struck them at 12% simple interest per year. How much total amount will the customer pay after 2 years?
a. ₱11,000 b. ₱11,500
c. ₱12,000 d. ₱12,400
d. ₱12,400