Compound Interest 7.RP.A.3 Grade 7 ACTASPIRE Practice Test Questions TOC | Lumos Learning

Compound Interest 7.RP.A.3 Question & Answer Key Resources Grade 7 Mathematics - Skill Builder + ACT Aspire Rehearsal

Grade 7 Mathematics - Skill Builder + ACT Aspire Rehearsal Compound Interest

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Jose invested $10,000 in a bank for 2 years at the rate of interest 5% p.a. compounded annually. Sam invested a certain sum in another bank for 2 years, which paid him only simple interest at the rate of 10% p.a. Both Jose and Sam got the same amount of interest. Find the sum invested by Sam?

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Question Type: Drag & Drop

Standard(s):7.RP.A.3

Standard Description: Use proportional relationships to solve multistep ratio and percent problems. Examples: simple interest, tax, markups and markdowns, gratuities and commissions, fees, percent increase and decrease, percent error.

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