Free Printable Understanding Simple Interest in Life

Worksheets

Understanding Simple Interest in Life

Total questions: 24

Worksheet time: 12mins

Name

Class

Date

If you invest $1000 at an annual simple interest rate of 5% for 3 years, how much interest will you earn?

$100

$150

$200

$250

You take out a loan of $5000 with a simple interest rate of 6% per year. How much interest will you owe after 2 years?

$300

$600

$900

$1200

If you deposit $2000 in a savings account with a simple interest rate of 4% per year, how much will you have in the account after 5 years?

$2200

$2400

$2600

$2800

What is the formula for calculating simple interest?

$I = P \times r \times t$

$I = P + r + t$

$I = \frac{P \times r}{t}$

$I = P \times r \div t$

If you borrow $1500 at a simple interest rate of 7% per year, how much will you owe in total after 4 years?

$1920

$1980

$2040

$2100

A savings account offers a simple interest rate of 3% per year. If you deposit $2500, how much interest will you earn in 3 years?

$225

$250

$275

$300

If you take out a loan of $8000 with a simple interest rate of 5% per year, how much interest will you owe after 1 year?

$300

$400

$500

$600

You invest $1200 in a savings account with a simple interest rate of 4% per year. How much will you have in the account after 2 years?

$1248

$1280

$1296

$1320

If you borrow $2000 at a simple interest rate of 6% per year, how much interest will you owe after 3 years?

$320

$340

$360

$380

10.

A loan of $5000 is taken out with a simple interest rate of 8% per year. How much will be owed in total after 2 years?

$5600

$5800

$6000

$6200

11.

If you deposit $3000 in a savings account with a simple interest rate of 5% per year, how much interest will you earn in 4 years?

$500

$600

$700

$800

12.

You take out a loan of $2500 with a simple interest rate of 7% per year. How much interest will you owe after 3 years?

$450

$500

$525

$550

13.

If you invest $4000 at a simple interest rate of 6% per year, how much will you have in total after 5 years?

$4800

$5000

$5200

$5400

14.

A savings account offers a simple interest rate of 2% per year. If you deposit $1500, how much interest will you earn in 3 years?

$60

$75

$90

$100

15.

If you borrow $6000 at a simple interest rate of 4% per year, how much interest will you owe after 2 years?

$420

$440

$460

$480

16.

You invest $5000 in a savings account with a simple interest rate of 3% per year. How much will you have in the account after 4 years?

$5400

$5500

$5600

$5700

17.

If you take out a loan of $7000 with a simple interest rate of 5% per year, how much interest will you owe after 3 years?

$900

$1000

$1050

$1100

18.

A savings account offers a simple interest rate of 4% per year. If you deposit $3500, how much interest will you earn in 2 years?

$240

$260

$280

$300

19.

If you borrow $10000 at a simple interest rate of 3% per year, how much interest will you owe after 4 years?

$1000

$1100

$1200

$1300

20.

You invest $6000 in a savings account with a simple interest rate of 5% per year. How much will you have in the account after 3 years?

$6900

$7000

$7100

$7200

21.

If you take out a loan of $4000 with a simple interest rate of 6% per year, how much interest will you owe after 2 years?

$420

$440

$460

$480

22.

A savings account offers a simple interest rate of 3% per year. If you deposit $2500, how much interest will you earn in 4 years?

$250

$300

$350

$400

23.

If you borrow $8000 at a simple interest rate of 4% per year, how much interest will you owe after 3 years?

$900

$960

$1000

$1050

24.

You invest $7000 in a savings account with a simple interest rate of 2% per year. How much will you have in the account after 5 years?

$7500

$7600

$7700

$7800

100 %

Understanding Simple Interest in Life

Total questions: 24

Worksheet time: 12mins

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