How to find simple interest Practice Test

Amy recently opened a new credit card. In her first month, expenditures totaled \$500 and she was not charged any interest. Amy paid \$80 from her first month's bill. The second month, Amy spent another \$60 on her credit card. This time, she was charged 5% interest on her total unpaid balance. How much interest was Amy charged?

Ben and Sam are starting a furniture design business. In order to build their shop, they borrow \$150,000 from their neighborhood bank. The interest rate on the loan is 6%. How much interest do they have to pay?

Question Navigator