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7.01 Simple interest review

Interactive practice questions

If $\$16716$$16716 of simple interest was earned in $7$7 years, how much interest was earned each:

a

year?

b

month?

Easy
1min

Calculate the simple interest earned on an investment of $\$2540$$2540 at $9%$9% p.a. for $2$2 years.

Give your answer to the nearest cent.

Easy
1min

Calculate the simple interest on a loan of $\$8000$$8000 at $8%$8% p.a. for $6$6 years.

Give the answer to the nearest dollar.

Easy
< 1min

Ned borrowed $\$3600$$3600 from a bank at a simple interest rate of $2.5%$2.5% for one year.

Easy
1min
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Outcomes

4.3.1.1

review the principles of simple interest through substitution of given values for other pronumerals into a mathematical formula to find the value of the subject of the formula

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