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WorksheetsSimple Interest
Total questions: 18
Worksheet time: 33mins
Amy deposits $200 in the bank for 5 years. She earns 5% interest. She made (a) in interest.
Howard borrowed $4,000 from the bank at an interest rate of 8%. He has to pay it back in 2 years. How much interest will he pay?
$640
$64
$74
$460
Danny earned $100 in interest on $800 that he deposited in the bank for 5 years. What was the interest rate?
0.025%
2.5%
.25%
25%
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
Emily’s parents put $1500 in her bank account for college tuition at a simple interest rate of 8.25%. What will be the balance after 18 years?
$22,275
$2227.50
$12,375
$3727.50
Mark took out a loan for $25,690 to purchase a new truck at a simple interest rate of 5.2%. How much interest will he pay on his truck after 5 years?
$6,679.40
$32,369.40
$66,794
$679.40
Ivan deposits $5,000 into an account that pays simple interest at a rate of 5% per year. How much interest will he be paid in the first 3 years?
What is the principle? (a)
What is the rate? (b)
What is the time? (c)
To be able to go on a trip to South America, Ann decides to save for 4 years. She opens a savings account with $300. The account pays simple interest at an annual rate of 5%. She doesn't make any more deposits. What will the total amount in the account be (including interest)?
View question in the picture then select the best answer
F
G
H
J
View question in the picture then select the best answer
A
B
C
D
View question in the picture then select the best answer
$53.13
$212.50
$1462.50
$21,250
Jessica borrowed $500 from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $70. As a percentage, what was the annual interest rate of her loan?
Match the following
500
Principle (P)
2
time (t)
Unknown
rate (r)
70
Interest (I)
4.3%
SIMPLE INTEREST FORMULA
You invest $500 at 4% rate and receive $60 in simple interest. How many years was it invested for?
1 year
2 years
3 years
4 years
Olivia would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% simple interest. If she spent $7400 on furniture, how much will she have paid in total after 8 years?
$5624
$13,024
$56,240
$1302.40
Jessica took out an $84000 loan to buy her grandmother a house. After 10 years, she had paid $31500 in interest. What was her interest rate?
37.5%
3.75%
4%
45%
