Score:

TEST I:

Provide what is being asked.

1-3. Write the formulas in finding the percent, rate,

and base

TEST II:

Solve the following problems

4.

If a principal of 1,250 earns interest of 172 in 2

years and 9 months, what interest rate is in effect?

5.

A principal earns interest of 196 in 3 years and 6

months at a simple interest rate of 6 1/2%. Find the
principal invested.

6.

How long will it take for 800 to earn 240, if it

invested at 6 1/2% simple interest?

A. Simple Interest
1.
Find the interest and amount on 550 at 5 1/2% simple
interest for 4 years.

P=

R=

B=
2.

Find the interest and amount of 1,500 at 6 1/4% simple

interest for 10 months.

4-8. Write the formulas in finding the simple, ordinary

and exact interests

P=

R=
3.
T=

Io=
Page | 1Ie=

Find the interest and amount on 850 at 4 3/4% simple

interest for 3 years and 7 months.

B. Ordinary and Exact Interest

1.

Find the ordinary and exact interest on 2,000 for 75

days at 8% simple interest.

2.

Compute the ordinary and exact interest on 580 for

120 days if the rate is 6 1/2%.

4.

Find the ordinary interest and amount on 10,800 at

5 1/5% for 105 days.

7.

5.

Find the exact interest and amount on 6,700 at 6 1/2%

for 150 days.

TEST III:

6.
3.

Find the ordinary interest and amount on 5,000 at

3 1/2% for 90 days.

Page | 2

Find the ordinary and exact simple interest on

2,500 for 180 days at 5% in a normal year,

Find the ordinary and exact interest

of the following

1.

P = 750

2.

P = 2,000

r = 8%

t = 90 days

Find the exact interest and amount on 7,800 at 7 1/2%

for 210 days.
r = 4%

t = 50 days