7.RP.3 Percents Check (Simple Interest, Percent Change, and Percent Error)

By Laura Rigg

Last updated almost 7 years ago

5 Questions

Note from the author:

This check assesses student understanding of simple interest, percent change, and percent error.   Students were expected to earn at least 80% (4 out of 5 questions correct) to be considered proficient.  I chose short answer as I expected students to get an accurate calculation and to round to the nearest hundredth or tenth depending on the problem.  

Calculator Active.
Round answers to the nearest cent or hundredth for money.
Round answers to the nearest tenth for percents. 

Anna put $500 into a savings account and made no more deposits or withdrawals. The account earns 2% simple interest per year. How much money will be in the account after 5 years?

7.RP.3 Percents Check (Simple Interest, Percent Change, and Percent Error)

Anna put $500 into a savings account and made no more deposits or withdrawals. The account earns 2% simple interest per year. How much money will be in the account after 5 years?

Tyler borrowed $2,000 at an 11.5% simple interest rate. What is the total amount Tyler will pay back at the end of 5 years?

A new automobile costs $23,782 but after one year it is worth $17,668. What is the percent of decrease in the value of the automobile?

In 2012, the population in a town was 8,000 people. In 2017, the population was 11,400. What was the percent increase in the population?

Lydia guessed there were 180 jelly beans in a container. There were actually 220 jelly beans in the container. What was Lydia's percent error?