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. $1500 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$1500 · 7% · 1 · Simple interest & savings
2. $600 is invested at 10% simple interest per year for 2 years. How much simple interest is earned?
$600 · 10% · 2 · Simple interest & savings
3. $1500 is invested at 6% simple interest per year for 6 years. How much simple interest is earned?
$1500 · 6% · 6 · Simple interest & savings
4. $600 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$600 · 4% · 6 · Simple interest & savings
5. $1400 is invested at 6% simple interest per year for 4 years. How much simple interest is earned?
$1400 · 6% · 4 · Simple interest & savings
6. $700 is invested at 9% simple interest per year for 6 years. How much simple interest is earned?
$700 · 9% · 6 · Simple interest & savings
7. $1600 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$1600 · 7% · 1 · Simple interest & savings
8. $1600 is invested at 3% simple interest per year for 6 years. How much simple interest is earned?
$1600 · 3% · 6 · Simple interest & savings
9. $100 is invested at 10% simple interest per year for 1 year. How much simple interest is earned?
$100 · 10% · 1 · Simple interest & savings
10. $1100 is invested at 3% simple interest per year for 1 year. How much simple interest is earned?
$1100 · 3% · 1 · Simple interest & savings
11. $1800 is invested at 10% simple interest per year for 4 years. How much simple interest is earned?
$1800 · 10% · 4 · Simple interest & savings
12. $1700 is invested at 8% simple interest per year for 1 year. How much simple interest is earned?
$1700 · 8% · 1 · Simple interest & savings

12 questions · Seed 104737 · 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. $1500 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$105
Simple interest I = P × r × t = $1500 × 7% × 1 = $105.
2. $600 is invested at 10% simple interest per year for 2 years. How much simple interest is earned?
$120
Simple interest I = P × r × t = $600 × 10% × 2 = $120.
3. $1500 is invested at 6% simple interest per year for 6 years. How much simple interest is earned?
$540
Simple interest I = P × r × t = $1500 × 6% × 6 = $540.
4. $600 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$144
Simple interest I = P × r × t = $600 × 4% × 6 = $144.
5. $1400 is invested at 6% simple interest per year for 4 years. How much simple interest is earned?
$336
Simple interest I = P × r × t = $1400 × 6% × 4 = $336.
6. $700 is invested at 9% simple interest per year for 6 years. How much simple interest is earned?
$378
Simple interest I = P × r × t = $700 × 9% × 6 = $378.
7. $1600 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$112
Simple interest I = P × r × t = $1600 × 7% × 1 = $112.
8. $1600 is invested at 3% simple interest per year for 6 years. How much simple interest is earned?
$288
Simple interest I = P × r × t = $1600 × 3% × 6 = $288.
9. $100 is invested at 10% simple interest per year for 1 year. How much simple interest is earned?
$10
Simple interest I = P × r × t = $100 × 10% × 1 = $10.
10. $1100 is invested at 3% simple interest per year for 1 year. How much simple interest is earned?
$33
Simple interest I = P × r × t = $1100 × 3% × 1 = $33.
11. $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.
12. $1700 is invested at 8% simple interest per year for 1 year. How much simple interest is earned?
$136
Simple interest I = P × r × t = $1700 × 8% × 1 = $136.

12 questions · Seed 104737 · Age guidance, not curriculum certification

Worksheet StudioPractice pack · Ages 16-18

Simple interest & savings

Take your time. Show your thinking.

1. $1500 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$1500 · 7% · 1 · Simple interest & savings
2. $600 is invested at 10% simple interest per year for 2 years. How much simple interest is earned?
$600 · 10% · 2 · Simple interest & savings
3. $1500 is invested at 6% simple interest per year for 6 years. How much simple interest is earned?
$1500 · 6% · 6 · Simple interest & savings
4. $600 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$600 · 4% · 6 · Simple interest & savings
5. $1400 is invested at 6% simple interest per year for 4 years. How much simple interest is earned?
$1400 · 6% · 4 · Simple interest & savings
6. $700 is invested at 9% simple interest per year for 6 years. How much simple interest is earned?
$700 · 9% · 6 · Simple interest & savings
7. $1600 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$1600 · 7% · 1 · Simple interest & savings
8. $1600 is invested at 3% simple interest per year for 6 years. How much simple interest is earned?
$1600 · 3% · 6 · Simple interest & savings
9. $100 is invested at 10% simple interest per year for 1 year. How much simple interest is earned?
$100 · 10% · 1 · Simple interest & savings
10. $1100 is invested at 3% simple interest per year for 1 year. How much simple interest is earned?
$1100 · 3% · 1 · Simple interest & savings
11. $1800 is invested at 10% simple interest per year for 4 years. How much simple interest is earned?
$1800 · 10% · 4 · Simple interest & savings
12. $1700 is invested at 8% simple interest per year for 1 year. How much simple interest is earned?
$1700 · 8% · 1 · Simple interest & savings

12 questions · Seed 104737 · Age guidance, not curriculum certification

Worksheet StudioAnswer key · Ages 16-18

Simple interest & savings

Answers and reasoning. Review before teaching.

1. $1500 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$105
Simple interest I = P × r × t = $1500 × 7% × 1 = $105.
2. $600 is invested at 10% simple interest per year for 2 years. How much simple interest is earned?
$120
Simple interest I = P × r × t = $600 × 10% × 2 = $120.
3. $1500 is invested at 6% simple interest per year for 6 years. How much simple interest is earned?
$540
Simple interest I = P × r × t = $1500 × 6% × 6 = $540.
4. $600 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$144
Simple interest I = P × r × t = $600 × 4% × 6 = $144.
5. $1400 is invested at 6% simple interest per year for 4 years. How much simple interest is earned?
$336
Simple interest I = P × r × t = $1400 × 6% × 4 = $336.
6. $700 is invested at 9% simple interest per year for 6 years. How much simple interest is earned?
$378
Simple interest I = P × r × t = $700 × 9% × 6 = $378.
7. $1600 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$112
Simple interest I = P × r × t = $1600 × 7% × 1 = $112.
8. $1600 is invested at 3% simple interest per year for 6 years. How much simple interest is earned?
$288
Simple interest I = P × r × t = $1600 × 3% × 6 = $288.
9. $100 is invested at 10% simple interest per year for 1 year. How much simple interest is earned?
$10
Simple interest I = P × r × t = $100 × 10% × 1 = $10.
10. $1100 is invested at 3% simple interest per year for 1 year. How much simple interest is earned?
$33
Simple interest I = P × r × t = $1100 × 3% × 1 = $33.
11. $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.
12. $1700 is invested at 8% simple interest per year for 1 year. How much simple interest is earned?
$136
Simple interest I = P × r × t = $1700 × 8% × 1 = $136.

12 questions · Seed 104737 · Age guidance, not curriculum certification