WorksheetsExploring Simple Interest Concepts
Total questions: 10
Worksheet time: 20mins
John invested $5000 in a savings account with an annual simple interest rate of 3%. How much interest will he earn in 2 years?
$150
$300
$450
$600
Sarah has two investment options. Option A offers a simple interest rate of 4% per year, and Option B offers a simple interest rate of 5% per year. If she invests $2000 in each option for 3 years, how much more interest will she earn with Option B compared to Option A?
$20
$30
$60
$90
A loan of $1500 @ 6% for 4 years , the interest earned is $360?
Yes, the calculation is correct.
No, the correct interest should be $300.
No, the correct interest should be $400.
No, the correct interest should be $450.
$2500 @ 5% for 5 years, the interest earned is?
2500
5
625
7 years
A bank offers a simple interest rate of 3.5% per year. If you want to earn $420 in interest, how much should you invest for 4 years?
$3000
$3500
$4000
$5000
Tom invested $4000 in a bond that pays a simple interest rate of 4.5% per year. How much total amount will he have after 3 years?
$4540
$4720
$4840
$5000
A principal of $1800 is invested at a simple interest rate of 3% per year. How much interest will be earned in 5 years?
$270
$300
$315
$360
If you invest $2500 at a simple interest rate of 4% per year, how much interest will you earn in 6 years?
$500
$600
$700
$800
A sum of $1200 is invested at a simple interest rate of 5% per year. How much total amount will be accumulated after 4 years?
$1360
$1400
$1440
$1500
If a principal amount of $5000 is invested at a simple interest rate of 2.5% per year, how much interest will be earned in 8 years?
$800
$900
$1000
$1100
