Simple Interest And Principal! Trivia Questions Quiz

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| By Anthony Nunan
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Simple Interest And Principal! Trivia Questions Quiz - Quiz

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Questions and Answers
  • 1. 

    I am offered a simple interest loan to start a business. I borrow $31000 at a rate of 4% per annum over 5 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 2. 

    I am offered a simple interest loan to start a business. I borrow $30000 at a rate of 8% per annum over 5 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 3. 

    I am offered a simple interest loan to start a business. I borrow $48000 at a rate of 5% per annum over 11 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 4. 

    I am offered a simple interest loan to start a business. I borrow $17000 at a rate of 5% per annum over 14 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 5. 

    I am offered a simple interest loan to start a business. I borrow $73000 at a rate of 14% per annum over 6 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 6. 

    I am offered a simple interest loan to start a business. I borrow $29000 at a rate of 15% per annum over 9 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 7. 

    I am offered a simple interest loan to start a business. I borrow $60000 at a rate of 18% per annum over 10 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 8. 

    I am offered a simple interest loan to start a business. I borrow $5000 at a rate of 18% per annum over 13 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 9. 

    I am offered a simple interest loan to start a business. I borrow $13000 at a rate of 13% per annum over 6 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 10. 

    I am offered a simple interest loan to start a business. I borrow $4000 at a rate of 12% per annum over 5 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 11. 

    I am offered a simple interest loan to start a business. I borrow $9000 at a rate of 12% per annum over 13 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 12. 

    I am offered a simple interest loan to start a business. I borrow $65000 at a rate of 4% per annum over 4 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 13. 

    I am offered a simple interest loan to start a business. I borrow $79000 at a rate of 16% per annum over 12 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 14. 

    I am offered a simple interest loan to start a business. I borrow $89000 at a rate of 11% per annum over 4 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 15. 

    I am offered a simple interest loan to start a business. I borrow $98000 at a rate of 16% per annum over 5 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 16. 

    I am offered a simple interest loan to start a business. I borrow $55000 at a rate of 5% per annum over 8 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 17. 

    I am offered a simple interest loan to start a business. I borrow $36000 at a rate of 7% per annum over 10 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 18. 

    I am offered a simple interest loan to start a business. I borrow $90000 at a rate of 10% per annum over 15 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 19. 

    I am offered a simple interest loan to start a business. I borrow $53000 at a rate of 13% per annum over 9 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 20. 

    I am offered a simple interest loan to start a business. I borrow $31000 at a rate of 18% per annum over 7 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 21. 

    I am offered a simple interest loan to start a business. I borrow $66000 at a rate of 6% per annum over 9 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 22. 

    I am offered a simple interest loan to start a business. I borrow $21000 at a rate of 16% per annum over 8 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 23. 

    I am offered a simple interest loan to start a business. I borrow $99000 at a rate of 10% per annum over 9 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 24. 

    I am offered a simple interest loan to start a business. I borrow $58000 at a rate of 5% per annum over 13 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 25. 

    I am offered a simple interest loan to start a business. I borrow $89000 at a rate of 18% per annum over 14 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 26. 

    I am offered a simple interest loan to start a business. I borrow $20000 at a rate of 18% per annum over 7 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 27. 

    I am offered a simple interest loan to start a business. I borrow $5000 at a rate of 16% per annum over 5 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 28. 

    I am offered a simple interest loan to start a business. I borrow $39000 at a rate of 9% per annum over 6 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 29. 

    I am offered a simple interest loan to start a business. I borrow $76000 at a rate of 4% per annum over 5 years. How much interest will I pay on this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years)

    Rate this question:

  • 30. 

    I borrow $98000 at a rate of 10% simple interest per annum over 5 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 31. 

    I borrow $40000 at a rate of 3% simple interest per annum over 13 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 32. 

    I borrow $49000 at a rate of 17% simple interest per annum over 5 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 33. 

    I borrow $77000 at a rate of 3% simple interest per annum over 4 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 34. 

    I borrow $59000 at a rate of 13% simple interest per annum over 8 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 35. 

    I borrow $55000 at a rate of 13% simple interest per annum over 11 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 36. 

    I borrow $15000 at a rate of 8% simple interest per annum over 15 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 37. 

    I borrow $58000 at a rate of 13% simple interest per annum over 5 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 38. 

    I borrow $68000 at a rate of 17% simple interest per annum over 11 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 39. 

    I borrow $57000 at a rate of 4% simple interest per annum over 5 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 40. 

    I borrow $54000 at a rate of 8% simple interest per annum over 6 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 41. 

    I borrow $25000 at a rate of 9% simple interest per annum over 7 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 42. 

    I borrow $30000 at a rate of 11% simple interest per annum over 11 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 43. 

    I borrow $57000 at a rate of 18% simple interest per annum over 8 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 44. 

    I borrow $66000 at a rate of 17% simple interest per annum over 7 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 45. 

    I borrow $73000 at a rate of 14% simple interest per annum over 13 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 46. 

    I borrow $43000 at a rate of 16% simple interest per annum over 6 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 47. 

    I borrow $64000 at a rate of 4% simple interest per annum over 10 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 48. 

    I borrow $31000 at a rate of 16% simple interest per annum over 6 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 49. 

    I borrow $85000 at a rate of 13% simple interest per annum over 12 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

  • 50. 

    I borrow $30000 at a rate of 14% simple interest per annum over 10 years. How much will I pay back in total for this loan?

    Explanation
    Using the Simple Interest formula, make 'I' the subject, and substitute the values in for Principal, rate (don't forget to convert it to a decimal - 12% per annum = 0.12) and time (in years), then don't forget to add on the principal to the amount of interest. That's what makes it the 'total paid back'.

    Rate this question:

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  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jan 27, 2015
    Quiz Created by
    Anthony Nunan

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