Simple Interest And Percent Change Quiz: Trivia

Reviewed by Editorial Team

The ProProfs editorial team is comprised of experienced subject matter experts. They've collectively created over 10,000 quizzes and lessons, serving over 100 million users. Our team includes in-house content moderators and subject matter experts, as well as a global network of rigorously trained contributors. All adhere to our comprehensive editorial guidelines, ensuring the delivery of high-quality content.

Learn about Our Editorial Process

| By Carrollc

Carrollc

Community Contributor

Quizzes Created: 3 | Total Attempts: 2,851

| Attempts: 652

Quiz Flashcard

Questions

Feedback

During the Quiz End of Quiz

Difficulty

Sequential Easy First Hard First

Share on Facebook Share on Twitter Share on Whatsapp Share on Pinterest Share on Email Copy to Clipboard Embed on your website

1/9 Questions

A bike was $79. It is now on sale for $63. What is the percent of change?
- 25% decrease
- 25% increase
- 20% decrease
- 20% decrease

About This Quiz

Engage with the Simple Interest and Percent Change Quiz: Trivia to enhance your understanding of basic arithmetic principles. This quiz tests your ability to calculate percentage increases, decreases, and simple interest, sharpening essential math skills for everyday applications.

Simple Interest And Percent Change Quiz: Trivia - Quiz

2.

Find the percent of increase: 52 to 65
- 20% increase
- 20% decrease
- 25% increase
- 22 % decrease
Correct Answer

A. 25% increase

Explanation

The percent of increase from 52 to 65 is 25%. This can be calculated by finding the difference between the two numbers (65 - 52 = 13), and then dividing that difference by the original number (13 / 52 = 0.25 or 25%). Therefore, there is a 25% increase from 52 to 65.

Rate this question:
3.

135 pounds to 120 pounds has a percent of change of 12.5%.
- True
- False
Correct Answer

A. False

Explanation

The given statement is false. To calculate the percent of change, we use the formula: (new value - old value) / old value * 100. In this case, the change is (120 - 135) / 135 * 100 = -11.11%. Therefore, the percent of change from 135 pounds to 120 pounds is -11.11%, not 12.5%.

Rate this question:
4.

If it was 25 degrees on Saturday and 15 degrees the next day, the percent of change is 40%.
- True
- False
Correct Answer

A. True

Explanation

The percent of change is calculated by finding the difference between the initial and final values, dividing it by the initial value, and then multiplying by 100. In this case, the initial value is 25 degrees and the final value is 15 degrees. The difference between them is 10 degrees. Dividing 10 by 25 gives us 0.4, which when multiplied by 100 gives us 40%. Therefore, the percent of change is indeed 40%, making the answer true.

Rate this question:
5.

What is the percent of decrease if a price today is $26 but was $20 in 1980? Be sure to put the % symbol after your answer.

Correct Answer
30%
30

Explanation
The percent of decrease can be calculated by finding the difference between the two prices, which is $26 - $20 = $6. Then, divide this difference by the original price ($20) and multiply by 100 to get the percentage. Therefore, (6/20) * 100 = 30%.

Rate this question:
6.

What is the formula for finding simple interest?
- P= IRT
- I=PRT
- T=RTI
- D/O
Correct Answer

A. I=PRT

Explanation

The formula for finding simple interest is I=PRT. This formula represents the relationship between the principal amount (P), the interest rate (R), and the time period (T) to calculate the interest earned or paid on a loan or investment. The interest (I) is equal to the principal amount multiplied by the interest rate and the time period.

Rate this question:
7.

What does the "T" mean in the formula for simple interest?
- Time in months
- Percent
- Rate
- Time in years
Correct Answer

A. Time in years

Explanation

The "T" in the formula for simple interest represents time in years. This means that when calculating simple interest, the time period for which the interest is being calculated is measured in years.

Rate this question:
8.

Find the simple interest: You deposit $250 in a savings account. The band pays 3%. You keep it in for 3 years. How much will the interest be in 3 years? BE SURE TO PUT A $ BEFORE YOUR ANSWER AND MAKE IT MONEY...TWO PLACES AFTER THE DECIMAL.

Correct Answer
22.50
$22.50

Explanation
The correct answer is $22.50. This is the interest earned on a deposit of $250 in a savings account with a 3% interest rate over a period of 3 years.

Rate this question:

2
9.

If you deposit $1,000 at 4.5% for 5 years, how much will you have (total) in your account after 5 years?
- $225
- $1,225
- $1,000
- $22,500
Correct Answer

A. $1,225

Explanation

If you deposit $1,000 at 4.5% for 5 years, the amount in your account after 5 years can be calculated using the formula for compound interest. The formula is A = P(1 + r/n)^(nt), where A is the final amount, P is the principal amount (initial deposit), r is the annual interest rate, n is the number of times interest is compounded per year, and t is the number of years. Plugging in the given values, we get A = 1000(1 + 0.045/1)^(1*5) = $1,225.

Rate this question:

2

Quiz Review Timeline (Updated): Mar 20, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

Current Version
Mar 20, 2023

Quiz Edited by
ProProfs Editorial Team
Mar 22, 2012

Quiz Created by
Carrollc

Simple Interest And Percent Change Quiz: Trivia

A bike was $79. It is now on sale for $63. What is the percent of change?

Quiz Preview

Find the percent of increase: 52 to 65

135 pounds to 120 pounds has a percent of change of 12.5%.

If it was 25 degrees on Saturday and 15 degrees the next day, the percent of change is 40%.

What is the percent of decrease if a price today is $26 but was $20 in 1980? Be sure to put the % symbol after your answer.

What is the formula for finding simple interest?

What does the "T" mean in the formula for simple interest?

Find the simple interest: You deposit $250 in a savings account. The band pays 3%. You keep it in for 3 years. How much will the interest be in 3 years? BE SURE TO PUT A $ BEFORE YOUR ANSWER AND MAKE IT MONEY...TWO PLACES AFTER THE DECIMAL.

If you deposit $1,000 at 4.5% for 5 years, how much will you have (total) in your account after 5 years?