Time & moneyAges 16-18

Simple interest & savings

Use I = Prt to calculate simple interest earned on a principal sum over a number of years. Review suitability for your learners before teaching.

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Age band:Ages 13-15 Ages 16-18

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Worksheet StudioPractice pack · Ages 16-18

Simple interest & savings

Take your time. Show your thinking.

1. $2000 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$2000 · 7% · 4 · Simple interest & savings
2. $1700 is invested at 8% simple interest per year for 2 years. How much simple interest is earned?
$1700 · 8% · 2 · Simple interest & savings
3. $1700 is invested at 6% simple interest per year for 3 years. How much simple interest is earned?
$1700 · 6% · 3 · Simple interest & savings
4. $2000 is invested at 3% simple interest per year for 3 years. How much simple interest is earned?
$2000 · 3% · 3 · Simple interest & savings
5. $1800 is invested at 4% simple interest per year for 3 years. How much simple interest is earned?
$1800 · 4% · 3 · Simple interest & savings
6. $400 is invested at 7% simple interest per year for 6 years. How much simple interest is earned?
$400 · 7% · 6 · Simple interest & savings
7. $1400 is invested at 4% simple interest per year for 4 years. How much simple interest is earned?
$1400 · 4% · 4 · Simple interest & savings
8. $1200 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$1200 · 2% · 3 · Simple interest & savings
9. $200 is invested at 3% simple interest per year for 3 years. How much simple interest is earned?
$200 · 3% · 3 · Simple interest & savings
10. $1800 is invested at 10% simple interest per year for 4 years. How much simple interest is earned?
$1800 · 10% · 4 · Simple interest & savings
11. $1600 is invested at 5% simple interest per year for 1 year. How much simple interest is earned?
$1600 · 5% · 1 · Simple interest & savings
12. $1200 is invested at 8% simple interest per year for 1 year. How much simple interest is earned?
$1200 · 8% · 1 · Simple interest & savings

12 questions · Seed 104735 · Age guidance, not curriculum certification

View the answer key

Worksheet StudioAnswer key · Ages 16-18

Simple interest & savings

Answers and reasoning. Review before teaching.

1. $2000 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$560
Simple interest I = P × r × t = $2000 × 7% × 4 = $560.
2. $1700 is invested at 8% simple interest per year for 2 years. How much simple interest is earned?
$272
Simple interest I = P × r × t = $1700 × 8% × 2 = $272.
3. $1700 is invested at 6% simple interest per year for 3 years. How much simple interest is earned?
$306
Simple interest I = P × r × t = $1700 × 6% × 3 = $306.
4. $2000 is invested at 3% simple interest per year for 3 years. How much simple interest is earned?
$180
Simple interest I = P × r × t = $2000 × 3% × 3 = $180.
5. $1800 is invested at 4% simple interest per year for 3 years. How much simple interest is earned?
$216
Simple interest I = P × r × t = $1800 × 4% × 3 = $216.
6. $400 is invested at 7% simple interest per year for 6 years. How much simple interest is earned?
$168
Simple interest I = P × r × t = $400 × 7% × 6 = $168.
7. $1400 is invested at 4% simple interest per year for 4 years. How much simple interest is earned?
$224
Simple interest I = P × r × t = $1400 × 4% × 4 = $224.
8. $1200 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$72
Simple interest I = P × r × t = $1200 × 2% × 3 = $72.
9. $200 is invested at 3% simple interest per year for 3 years. How much simple interest is earned?
$18
Simple interest I = P × r × t = $200 × 3% × 3 = $18.
10. $1800 is invested at 10% simple interest per year for 4 years. How much simple interest is earned?
$720
Simple interest I = P × r × t = $1800 × 10% × 4 = $720.
11. $1600 is invested at 5% simple interest per year for 1 year. How much simple interest is earned?
$80
Simple interest I = P × r × t = $1600 × 5% × 1 = $80.
12. $1200 is invested at 8% simple interest per year for 1 year. How much simple interest is earned?
$96
Simple interest I = P × r × t = $1200 × 8% × 1 = $96.

12 questions · Seed 104735 · Age guidance, not curriculum certification

Worksheet StudioPractice pack · Ages 16-18

Simple interest & savings

Take your time. Show your thinking.

1. $2000 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$2000 · 7% · 4 · Simple interest & savings
2. $1700 is invested at 8% simple interest per year for 2 years. How much simple interest is earned?
$1700 · 8% · 2 · Simple interest & savings
3. $1700 is invested at 6% simple interest per year for 3 years. How much simple interest is earned?
$1700 · 6% · 3 · Simple interest & savings
4. $2000 is invested at 3% simple interest per year for 3 years. How much simple interest is earned?
$2000 · 3% · 3 · Simple interest & savings
5. $1800 is invested at 4% simple interest per year for 3 years. How much simple interest is earned?
$1800 · 4% · 3 · Simple interest & savings
6. $400 is invested at 7% simple interest per year for 6 years. How much simple interest is earned?
$400 · 7% · 6 · Simple interest & savings
7. $1400 is invested at 4% simple interest per year for 4 years. How much simple interest is earned?
$1400 · 4% · 4 · Simple interest & savings
8. $1200 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$1200 · 2% · 3 · Simple interest & savings
9. $200 is invested at 3% simple interest per year for 3 years. How much simple interest is earned?
$200 · 3% · 3 · Simple interest & savings
10. $1800 is invested at 10% simple interest per year for 4 years. How much simple interest is earned?
$1800 · 10% · 4 · Simple interest & savings
11. $1600 is invested at 5% simple interest per year for 1 year. How much simple interest is earned?
$1600 · 5% · 1 · Simple interest & savings
12. $1200 is invested at 8% simple interest per year for 1 year. How much simple interest is earned?
$1200 · 8% · 1 · Simple interest & savings

12 questions · Seed 104735 · Age guidance, not curriculum certification

Worksheet StudioAnswer key · Ages 16-18

Simple interest & savings

Answers and reasoning. Review before teaching.

1. $2000 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$560
Simple interest I = P × r × t = $2000 × 7% × 4 = $560.
2. $1700 is invested at 8% simple interest per year for 2 years. How much simple interest is earned?
$272
Simple interest I = P × r × t = $1700 × 8% × 2 = $272.
3. $1700 is invested at 6% simple interest per year for 3 years. How much simple interest is earned?
$306
Simple interest I = P × r × t = $1700 × 6% × 3 = $306.
4. $2000 is invested at 3% simple interest per year for 3 years. How much simple interest is earned?
$180
Simple interest I = P × r × t = $2000 × 3% × 3 = $180.
5. $1800 is invested at 4% simple interest per year for 3 years. How much simple interest is earned?
$216
Simple interest I = P × r × t = $1800 × 4% × 3 = $216.
6. $400 is invested at 7% simple interest per year for 6 years. How much simple interest is earned?
$168
Simple interest I = P × r × t = $400 × 7% × 6 = $168.
7. $1400 is invested at 4% simple interest per year for 4 years. How much simple interest is earned?
$224
Simple interest I = P × r × t = $1400 × 4% × 4 = $224.
8. $1200 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$72
Simple interest I = P × r × t = $1200 × 2% × 3 = $72.
9. $200 is invested at 3% simple interest per year for 3 years. How much simple interest is earned?
$18
Simple interest I = P × r × t = $200 × 3% × 3 = $18.
10. $1800 is invested at 10% simple interest per year for 4 years. How much simple interest is earned?
$720
Simple interest I = P × r × t = $1800 × 10% × 4 = $720.
11. $1600 is invested at 5% simple interest per year for 1 year. How much simple interest is earned?
$80
Simple interest I = P × r × t = $1600 × 5% × 1 = $80.
12. $1200 is invested at 8% simple interest per year for 1 year. How much simple interest is earned?
$96
Simple interest I = P × r × t = $1200 × 8% × 1 = $96.

12 questions · Seed 104735 · Age guidance, not curriculum certification