Mastering Simple Interest: Fun Problems for Grade 5

1. Sarah deposited $200 in a savings account that earns 5% simple interest per year. How much interest will she earn in 3 years?

• $15

• $10

• $50

• $30

2. Tom borrowed $150 from a friend at a simple interest rate of 4% per year. How much interest will he owe after 2 years?

• $8

• $10

• $12

• $6

3. A bank offers a savings account with a 6% simple interest rate. If Emily invests $500, how much interest will she earn in 5 years?

• $200

• $100

• $150

• $75

4. Mark wants to save $1,000 for a new bike. If he puts $200 in a savings account with a 3% interest rate, how much more does he need to save after 4 years to reach his goal?

• $500.00

• $1,200.00

• $300.50

• $774.90

5. Lisa invested $300 in a bond that pays 7% simple interest annually. How much total money will she have after 4 years?

• 400

• 384

• 350

• 300

6. If Jake takes a loan of $400 at a simple interest rate of 5% for 3 years, how much total amount will he have to pay back?

• 450

• 420

• 500

• 460

7. A school fundraiser collected $250, which will earn 2% simple interest over 2 years. How much interest will the fundraiser earn by the end of the period?

• $20

• $15

• $10

• $5

8. If a person invests $600 at a simple interest rate of 8% for 5 years, how much interest will they earn?

• $300

• $240

• $180

• $120

9. Maria has $800 in a savings account that earns 4% simple interest. How much interest will she earn in 6 years?

• $192

• $300

• $240

• $160

10. A car dealership offers a financing plan with a simple interest rate of 3% on a $10,000 loan for 2 years. How much interest will the buyer pay?

• $800

• $400

• $1,200

• 600