L1-18 Calculate simple interest in multiples of 5% on amounts of money Quiz: Pearson Edexcel Functional Skills Maths, Unit 1

The 20 questions

1. What is the simple interest on £400 at 5% for one year?

   • £2
   • £40
   • £20
   • £200

2. £600 is saved at 10% simple interest for one year. How much interest is earned?

   • £600
   • £10
   • £60
   • £6

3. £250 is saved at 5% simple interest for 2 years. What is the total interest?

   • £25
   • £250
   • £50
   • £12.50

4. A loan of £1 000 charges 15% simple interest for one year. How much interest is charged?

   • £100
   • £15
   • £1 150
   • £150

5. On what amount is simple interest always calculated?

   • final balance
   • total accumulated
   • original amount only
   • interest only

6. £500 is invested at 20% simple interest for 3 years. What is the total interest?

   • £240
   • £300
   • £500
   • £100

7. £1 500 is borrowed at 5% simple interest per year for 4 years. What is the total interest?

   • £75
   • £600
   • £375
   • £300

8. £40 is saved at 25% simple interest for one year. How much interest is earned?

   • £25
   • £1
   • £10
   • £4

9. £200 is invested at 10% simple interest for 2 years. What is the total amount?

   • £200
   • £280
   • £240
   • £220

10. £3 600 is invested at 5% simple interest for 6 months. How much interest is earned?

    • £90
    • £180
    • £45
    • £360

11. £2 000 is invested at 15% simple interest for 18 months. How much interest is earned?

    • £450
    • £300
    • £2 450
    • £150

12. A balance of £120 carries 25% simple interest for one year. How much interest is added?

    • £150
    • £3
    • £25
    • £30

13. What is the formula for simple interest per year?

    • rate - principal
    • principal + rate
    • principal × rate
    • principal ÷ rate

14. £2 000 earns 5% simple interest for one year. What is the total balance?

    • £2 200
    • £2 100
    • £2 010
    • £2 050

15. £80 interest is earned on £400 in one year. What is the rate?

    • 80%
    • 25%
    • 20%
    • 5%

16. £150 is invested at 10% simple interest for 3 years. What is the total interest?

    • £45
    • £15
    • £150
    • £30

17. £900 is saved at 5% simple interest for 2 years. What is the total balance?

    • £900
    • £990
    • £1 000
    • £945

18. £500 is invested at 30% simple interest for one year. How much interest is earned?

    • £50
    • £15
    • £150
    • £1 500

19. £240 is borrowed at 10% simple interest per year for 3 years. What is the total interest?

    • £240
    • £72
    • £24
    • £7.20

20. What principal earns £60 interest at 5% simple interest over 3 years?

    • £120
    • £300
    • £400
    • £200

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