Reading an interest problem

Exercise and reference answers

Questions

1. Question

   The sum borrowed is called the

   Choices

   1. amount
   2. interest
   3. principal

   Correct choice

   principal

2. Question

   '15% per annum' describes the

   Choices

   1. rate
   2. principal
   3. amount

   Correct choice

   rate

3. Question

   Principal plus interest is the

   Choices

   1. rate
   2. amount
   3. discount

   Correct choice

   amount

Explanation