WorksheetsSimple Interest with Percent Applications
Total questions: 11
Worksheet time: 6mins
You are planning to take out a 6-year loan with an interest rate of 1.5%. If x is the amount of the loan, write an expression that represents the simple interest accrued.
I = x(1.5)(6)
I = x(0.015)(6)
I = x(1.5 + 6)
I = 1.5x + 6x
I = x(0.6)(10)
I = x(0.006)(10)
I = x(0.06)(10)
I = x + x(0.006)(10)
Austin loaned his brother $20 and asked him to pay him back in 3 months. He's going to charge him 4% interest. Ausin is excited about all the money he will make in interest. How much will he really make in interest?
(a)
Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays a simple interest rate of 3.8%. What will be the amount of interest earned after 15 years?
$3182.50
$270.75
$2707.50
$745.75
Twelve years ago, Claire deposited $1,800 in a savings account. It pays 2.5% simple interest. How much in interest did Claire earn in the account?
$2,340
$23,400
$540
$54
Shawn is buying a new jet ski for $12,500. His Credit Union offers 8.5% simple interest. How much interest will Shawn pay on his Jet Ski after 18 months?
$1593.75
$19,125
$159,375
$14,093.75
Rob has $5,000. He deposits his money into a savings account at Town Bank which offers a 4.25% interest rate. If Rob does not make any deposits or withdrawals, how much simple interest will Rob's money earn after 6 months?
$10,625
$1275
$106.25
$127,500
Calculate the total amount:
Principal: $630
Interest Rate: 5.5%
Time: 6 months
$647.33
$17.33
$172.25
$803.25
Victoria borrowed $500 for college textbooks. The interest rate was 6%. She plans to pay back her loan in 6 months. How much will she pay total?
(a)
What would be the total amount owed for a $3,275 loan with a 4.5% interest rate after 4 years?
(a)
Riley invested $1,000 in a savings account. If the account earns 6.75% simple interest, what is the balance in her account after 15 years?
$1,012.50
$10,012.50
$2,012.50
$201.25
