# Simple Interest Quiz

 1. What is 20% as a fraction?A one fifthB one quarterC one third 2. What is 25% as a fraction?A one tenthB one quarterC one third 3. How many years is 18 months?A 1.8B 1.5C 1.2 4. How many years is 3 months?A 3B 0.5C 0.25 5. Rachel has a loan of \$5000 at 10% p.a. simple interest over 3 years. What is the interest to be repaid?A \$1500B \$500C \$150 6. How much does Rachel (in Question 5) repay altogether?A \$5000B \$5150C \$6500 7. If Rachel (in Questions 5 and 6) repays the loan weekly, how much is each repayment?A \$41.67B \$17.16C \$23.70 8. Stefan borrows \$4000 at 5% p.a. flat interest over 6 months. How much is the interest?A \$120000B \$1200C \$100 9. Leanne borrows \$2000 at 2% p.a. flat interest over 18 months. How much is the interest?A \$6000B \$60C \$72 10. Fiona borrows \$1000 at 2% p.a. flat interest over 3 years. How much is repaid altogether?A \$1060B \$1000C \$600

 Your AnswersQ 1: Q 2: Q 3: Q 4: Q 5: Q 6: Q 7: Q 8: Q 9: Q10: Correct AnswersQ 1: Q 2: Q 3: Q 4: Q 5: Q 6: Q 7: Q 8: Q 9: Q10: