*This Math quiz is called 'Business Math 04 - Calculating Interest Per Day (Practice 2)' and it has been written by teachers to help you if you are studying the subject at middle school. Playing educational quizzes is a fabulous way to learn if you are in the 6th, 7th or 8th grade - aged 11 to 14.*

* It costs only $12.50 per month to play this quiz and over 3,500 others that help you with your school work. You can subscribe on the page at Join Us*

As calculating interest per day is a little trickier than calculating by simple years, additional practice is needed. Why all of the attention on interest? There is interest that needs to be paid (or earned) on almost everything in life. That’s just one of the reasons that math is and will always be an important part of your life and it will play many roles throughout as well. That is also what business math is all about. Teaching you everyday math and how it applies. This is math that you will use and the more you know about it and understand it, the better informed you will be to make some serious decisions in life such as what kind of a car should you get, what colleges can you afford to get into, getting married and the expenses involved in that. Then there is buying a house or going on a big vacation.

1.

$177,000.00 at 6.875% for 10,950 days.

$365,062.50

$356,026.05

$356,206.50

$365,602.05

2.

$1,375.00 at 4.15% for 611 days.

$905.52

$95.52

$59.92

$599.20

Working the problem

$1,375.00 at 4.15% for 611 days.

I = PRT

1375 x 0.0415 x 611/365

1375 x 0.0415 = 57.0625

$57.06 per year

57.06 ÷ 365 (days) = 0.1563288 per diem

$0.1563288 x 611 (days) = $95.52

I = $95.52

Answer (b) is the correct answer

$1,375.00 at 4.15% for 611 days.

I = PRT

1375 x 0.0415 x 611/365

1375 x 0.0415 = 57.0625

$57.06 per year

57.06 ÷ 365 (days) = 0.1563288 per diem

$0.1563288 x 611 (days) = $95.52

I = $95.52

Answer (b) is the correct answer

3.

$66,725.00 at 4.23% for 285 days.

$2,203.85

$2,023.58

$2,032.85

$2,038.25

Working the problem

$66,725.00 at 4.23% for 285 days.

I = PRT

66,725 x 0.0423 x 285/365

66,725 x 0.0423 = 2,822.4675

$2,822.47 per year

2,822.47 ÷ 365 (days) = 7.7327945 per diem

$7.7327945 x 285 (days) = $2,203.8464

I = $2,203.85

Answer (a) is the correct answer

$66,725.00 at 4.23% for 285 days.

I = PRT

66,725 x 0.0423 x 285/365

66,725 x 0.0423 = 2,822.4675

$2,822.47 per year

2,822.47 ÷ 365 (days) = 7.7327945 per diem

$7.7327945 x 285 (days) = $2,203.8464

I = $2,203.85

Answer (a) is the correct answer

4.

$27,800.00 at 6.75% for 243 days.

$1,429.29

$1,942.92

$1,249.29

$1,294.92

Working the problem

$27,800.00 at 6.75% for 243 days.

I = PRT

27,800 x 0.0675 x 243/365

27,800 x 0.0675 = 1,876.50

$1,876.50 per year

1,876.50 ÷ 365 (days) = 5.1410959 per diem

$5.1410959 x 243 (days) = $1,249.2863

I = $1,249.29

Answer (c) is the correct answer

$27,800.00 at 6.75% for 243 days.

I = PRT

27,800 x 0.0675 x 243/365

27,800 x 0.0675 = 1,876.50

$1,876.50 per year

1,876.50 ÷ 365 (days) = 5.1410959 per diem

$5.1410959 x 243 (days) = $1,249.2863

I = $1,249.29

Answer (c) is the correct answer

5.

$55,000.00 at 7.25% for 1500 days.

$1,638.69

$16,368.68

$1,638.70

$16,386.99

Working the problem

$55,000.00 at 7.25% for 1500 days.

I = PRT

55,000 x 0.0725 x 1500/365

55,000 x 0.0725 = 3,987.50

$3,987.50 per year

3,987.50 ÷ 365 (days) = 10.924658 per diem

$10.924658 x 1500 (days) = $16,386.99

I = $16,386.99

Answer (d) is the correct answer

$55,000.00 at 7.25% for 1500 days.

I = PRT

55,000 x 0.0725 x 1500/365

55,000 x 0.0725 = 3,987.50

$3,987.50 per year

3,987.50 ÷ 365 (days) = 10.924658 per diem

$10.924658 x 1500 (days) = $16,386.99

I = $16,386.99

Answer (d) is the correct answer

6.

$4,250.00 at 5.25% for 450 days.

$265.09

$270.09

$275.09

$280.09

Working the problem

$4,250.00 at 5.25% for 450 days.

I = PRT

4,250 x 0.0525 x 450/365

4,250 x 0.0525 = 223.125

$223.125 per year

223.125 ÷ 365 (days) = 0.6113014 per diem

$0. 6113014 x 450 (days) = $275.09

I = $275.09

Answer (c) is the correct answer

$4,250.00 at 5.25% for 450 days.

I = PRT

4,250 x 0.0525 x 450/365

4,250 x 0.0525 = 223.125

$223.125 per year

223.125 ÷ 365 (days) = 0.6113014 per diem

$0. 6113014 x 450 (days) = $275.09

I = $275.09

Answer (c) is the correct answer

7.

$33,950.00 at 8.33% for 410 days.

$3,716.07

$3,176.70

$3,617.70

$3,671.07

Working the problem

$33,950.00 at 8.33% for 410 days.

I = PRT

33,950 x 0.0833 x 410/365

33,950 x 0.0833 = 2,828.035

$2,828.04 per year

2,828.04 ÷ 365 (days) = 7.7480548 per diem

$7.7480548 x 410 (days) = $3,176.70

I = $3,176.70

Answer (b) is the correct answer

$33,950.00 at 8.33% for 410 days.

I = PRT

33,950 x 0.0833 x 410/365

33,950 x 0.0833 = 2,828.035

$2,828.04 per year

2,828.04 ÷ 365 (days) = 7.7480548 per diem

$7.7480548 x 410 (days) = $3,176.70

I = $3,176.70

Answer (b) is the correct answer

8.

$695.00 at 5.2% for 632 days.

$56.29

$66.95

$59.62

$62.58

Working the problem

$695.00 at 5.2% for 632 days.

I = PRT

695 x 0.052 x 632/365

695 x 0.052 = 36.14

$36.14 per year

36.14 ÷ 365 (days) = 0.0990137 per diem

$0.0990137 x 632 (days) = $62.5767

I = $62.58

Answer (d) is the correct answer

$695.00 at 5.2% for 632 days.

I = PRT

695 x 0.052 x 632/365

695 x 0.052 = 36.14

$36.14 per year

36.14 ÷ 365 (days) = 0.0990137 per diem

$0.0990137 x 632 (days) = $62.5767

I = $62.58

Answer (d) is the correct answer

9.

$6,400.00 at 2.25% for 215 years.

$89.42

$89.24

$84.82

$84.28

Working the problem

$6,400.00 at 2.25% for 215 days.

I = PRT

6,400 x 0.0225 x 215/365

6,400 x 0.0225 = 144

$144.00 per year

144 ÷ 365 (days) = 0.3945205 per diem

$0.3945205 x 215 (days) = $84.82

I = $84.82

Answer (c) is the correct answer

$6,400.00 at 2.25% for 215 days.

I = PRT

6,400 x 0.0225 x 215/365

6,400 x 0.0225 = 144

$144.00 per year

144 ÷ 365 (days) = 0.3945205 per diem

$0.3945205 x 215 (days) = $84.82

I = $84.82

Answer (c) is the correct answer

10.

$825.00 x 5.87% for 120 days.

$16.29

$15.29

$16.92

$15.92

Working the problem

$825.00 at 5.87% for 120 days.

I = PRT

825 x 0.0587 x 120/365

825 x 0.0587 = 48.4275

$48.43 per year

48.43 ÷ 365 (days) = 0.1326849 per diem

$0.1326849 x 120 (days) = $15.92

I = $15.92

Answer (d) is the correct answer

$825.00 at 5.87% for 120 days.

I = PRT

825 x 0.0587 x 120/365

825 x 0.0587 = 48.4275

$48.43 per year

48.43 ÷ 365 (days) = 0.1326849 per diem

$0.1326849 x 120 (days) = $15.92

I = $15.92

Answer (d) is the correct answer

**Unlimited Quizzes Await You! 🚀**

Hey there, quiz champ! 🌟 You've already tackled today's free questions.

Ready for more?

Ready for more?

🔓 Unlock UNLIMITED Quizzes and challenge yourself every day. But that's

not all...

not all...

🔥 As a Subscriber you can join our thrilling "Daily Streak" against other

quizzers. Try to win a coveted spot on our Hall of Fame Page.

quizzers. Try to win a coveted spot on our Hall of Fame Page.

Don't miss out! Join us now and keep the fun rolling. 🎉

**Unlimited Quizzes Await You! 🚀**

Hey there, quiz champ! 🌟 You've already tackled today's free questions. Ready for more?

🔓 Unlock UNLIMITED Quizzes and challenge yourself every day. But that's not all...

🔥 As a Subscriber you can join our thrilling "Daily Streak" against other quizzers. Try to win a coveted spot on our Hall of Fame Page.

Don't miss out! Join us now and keep the fun rolling. 🎉

$177,000.00 at 6.875% for 10,950 days.

I = PRT

177,000 x 0.06875 x 10950/365

177,000 x 0.06875 = 12,168.75

$12,168.75 per year

12,168.75 ÷ 365 (days) = 33.3390411 per diem

$33.3390411 x 10950 (days) = $365,062.50

I = $365,062.50

Answer (a) is the correct answer