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Ratio, rate, And Proportion Word Problems
Worksheet
Grade Level
Grade 7
7.6 Ratio, rate, And Proportion Word Problems
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Sofia deposits $300.00 in a savings account that earns simple interest at 6% per year. How much money will be in the account after 4 years (principal + interest)? Which choice gives the correct total AND a good strategy?
A
$372.00; Use I = P × r × t for simple interest, then add I to P.
B
$378.74; Use compound interest (power) instead of simple interest.
C
$318.00; Find 1 year of interest but ignore the number of years.
D
$72.00; Give only the interest, not principal + interest.
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