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

Simple 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 Simple Interest

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If $1,000 fetches a simple interest of $80 at the end of \(2\frac{1}{2}\) years , what is the rate of interest?
Select the correct answer.
  1. 5% p.a.
  2. 3.2% p.a.
  3. 9% p.a.
  4. 4% p.a.

Resource: Question

Question Type: Hot Text

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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