Interest and Borrowing

Hong Kong

Stage 1 - Stage 3

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

a

year?

b

month?

Easy

Approx 2 minutes

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.

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.

Calculate the simple interest earned on an investment of $\$2010$$2010 at a rate of $6%$6% p.a. for $13$13 months.

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