33
practice examMultiple Choice

Practice Exam

Question 33 • Grade 7 Mathematics

The office manager of First Tech Support borrowed $25,000 to purchase new computers for employees. The bank charges 6 percent interest for 4 years. How much interest will the company pay in all?

Answer
A
$1,500
B
$4,800
C
$6,000
D
$1,200

Explanation

Use the simple interest formula: interest = principal × rate × time. Substituting the values gives $25,000 × 0.06 × 4 = $6,000. The company will pay $6,000 in interest, choice C.

AI-written and checked against the verified answer.

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