# Mrc Simple Interest Quiz 2

5 Questions | Attempts: 40
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• 1.
Wally invests \$15,000 at a rate of 6% p.a. for 3 years. Calculate the simple interest that Wally will have earned over the three years.
• A.

\$90,000

• B.

2,700

• C.

\$270,000

• D.

\$2,700

• 2.
Sandra invests \$22,000 at a rate of 4% p.a. for 27 months. Calculate the simple interest earned over the 27 months.
• A.

\$880

• B.

\$1,980

• C.

\$23,760

• D.

\$203.7

• 3.
Charlie invests \$2000 at a rate of 6% p.a. for 5 years. Calculate the total amount available at the end of the 5 years.
• A.

\$600

• B.

\$1400

• C.

\$2000

• D.

\$2600

• 4.
A finance company charged 14% p.a. simple interest. If Frank borrows \$2000 to the repaid over 2 years, calculate his total repayment.
• A.

\$2560

• B.

\$1440

• C.

\$2000

• D.

\$560

• 5.
Lara wins \$5000 during a maths tournament. She wishes to invest her winnings, and has two choices given below. Which one gives her the greater total at the end of the time?
• A.

Choice 1: 8.5% p.a. simple interest for 4 years.

• B.

Option 2: 8% p.a. simple interest for 54 months.