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. $500 is invested at 10% simple interest per year for 1 year. How much simple interest is earned?
$500 · 10% · 1 · Simple interest & savings
2. $2000 is invested at 7% simple interest per year for 3 years. How much simple interest is earned?
$2000 · 7% · 3 · Simple interest & savings
3. $700 is invested at 3% simple interest per year for 5 years. How much simple interest is earned?
$700 · 3% · 5 · Simple interest & savings
4. $100 is invested at 2% simple interest per year for 6 years. How much simple interest is earned?
$100 · 2% · 6 · Simple interest & savings
5. $200 is invested at 6% simple interest per year for 5 years. How much simple interest is earned?
$200 · 6% · 5 · Simple interest & savings
6. $1100 is invested at 8% simple interest per year for 4 years. How much simple interest is earned?
$1100 · 8% · 4 · Simple interest & savings
7. $1000 is invested at 3% simple interest per year for 6 years. How much simple interest is earned?
$1000 · 3% · 6 · Simple interest & savings
8. $600 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$600 · 7% · 4 · Simple interest & savings
9. $300 is invested at 5% simple interest per year for 3 years. How much simple interest is earned?
$300 · 5% · 3 · Simple interest & savings
10. $2000 is invested at 6% simple interest per year for 3 years. How much simple interest is earned?
$2000 · 6% · 3 · Simple interest & savings
11. $300 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$300 · 2% · 5 · Simple interest & savings
12. $1400 is invested at 3% simple interest per year for 2 years. How much simple interest is earned?
$1400 · 3% · 2 · Simple interest & savings

12 questions · Seed 104744 · 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. $500 is invested at 10% simple interest per year for 1 year. How much simple interest is earned?
$50
Simple interest I = P × r × t = $500 × 10% × 1 = $50.
2. $2000 is invested at 7% simple interest per year for 3 years. How much simple interest is earned?
$420
Simple interest I = P × r × t = $2000 × 7% × 3 = $420.
3. $700 is invested at 3% simple interest per year for 5 years. How much simple interest is earned?
$105
Simple interest I = P × r × t = $700 × 3% × 5 = $105.
4. $100 is invested at 2% simple interest per year for 6 years. How much simple interest is earned?
$12
Simple interest I = P × r × t = $100 × 2% × 6 = $12.
5. $200 is invested at 6% simple interest per year for 5 years. How much simple interest is earned?
$60
Simple interest I = P × r × t = $200 × 6% × 5 = $60.
6. $1100 is invested at 8% simple interest per year for 4 years. How much simple interest is earned?
$352
Simple interest I = P × r × t = $1100 × 8% × 4 = $352.
7. $1000 is invested at 3% simple interest per year for 6 years. How much simple interest is earned?
$180
Simple interest I = P × r × t = $1000 × 3% × 6 = $180.
8. $600 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$168
Simple interest I = P × r × t = $600 × 7% × 4 = $168.
9. $300 is invested at 5% simple interest per year for 3 years. How much simple interest is earned?
$45
Simple interest I = P × r × t = $300 × 5% × 3 = $45.
10. $2000 is invested at 6% simple interest per year for 3 years. How much simple interest is earned?
$360
Simple interest I = P × r × t = $2000 × 6% × 3 = $360.
11. $300 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$30
Simple interest I = P × r × t = $300 × 2% × 5 = $30.
12. $1400 is invested at 3% simple interest per year for 2 years. How much simple interest is earned?
$84
Simple interest I = P × r × t = $1400 × 3% × 2 = $84.

12 questions · Seed 104744 · Age guidance, not curriculum certification

Worksheet StudioPractice pack · Ages 16-18

Simple interest & savings

Take your time. Show your thinking.

1. $500 is invested at 10% simple interest per year for 1 year. How much simple interest is earned?
$500 · 10% · 1 · Simple interest & savings
2. $2000 is invested at 7% simple interest per year for 3 years. How much simple interest is earned?
$2000 · 7% · 3 · Simple interest & savings
3. $700 is invested at 3% simple interest per year for 5 years. How much simple interest is earned?
$700 · 3% · 5 · Simple interest & savings
4. $100 is invested at 2% simple interest per year for 6 years. How much simple interest is earned?
$100 · 2% · 6 · Simple interest & savings
5. $200 is invested at 6% simple interest per year for 5 years. How much simple interest is earned?
$200 · 6% · 5 · Simple interest & savings
6. $1100 is invested at 8% simple interest per year for 4 years. How much simple interest is earned?
$1100 · 8% · 4 · Simple interest & savings
7. $1000 is invested at 3% simple interest per year for 6 years. How much simple interest is earned?
$1000 · 3% · 6 · Simple interest & savings
8. $600 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$600 · 7% · 4 · Simple interest & savings
9. $300 is invested at 5% simple interest per year for 3 years. How much simple interest is earned?
$300 · 5% · 3 · Simple interest & savings
10. $2000 is invested at 6% simple interest per year for 3 years. How much simple interest is earned?
$2000 · 6% · 3 · Simple interest & savings
11. $300 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$300 · 2% · 5 · Simple interest & savings
12. $1400 is invested at 3% simple interest per year for 2 years. How much simple interest is earned?
$1400 · 3% · 2 · Simple interest & savings

12 questions · Seed 104744 · Age guidance, not curriculum certification

Worksheet StudioAnswer key · Ages 16-18

Simple interest & savings

Answers and reasoning. Review before teaching.

1. $500 is invested at 10% simple interest per year for 1 year. How much simple interest is earned?
$50
Simple interest I = P × r × t = $500 × 10% × 1 = $50.
2. $2000 is invested at 7% simple interest per year for 3 years. How much simple interest is earned?
$420
Simple interest I = P × r × t = $2000 × 7% × 3 = $420.
3. $700 is invested at 3% simple interest per year for 5 years. How much simple interest is earned?
$105
Simple interest I = P × r × t = $700 × 3% × 5 = $105.
4. $100 is invested at 2% simple interest per year for 6 years. How much simple interest is earned?
$12
Simple interest I = P × r × t = $100 × 2% × 6 = $12.
5. $200 is invested at 6% simple interest per year for 5 years. How much simple interest is earned?
$60
Simple interest I = P × r × t = $200 × 6% × 5 = $60.
6. $1100 is invested at 8% simple interest per year for 4 years. How much simple interest is earned?
$352
Simple interest I = P × r × t = $1100 × 8% × 4 = $352.
7. $1000 is invested at 3% simple interest per year for 6 years. How much simple interest is earned?
$180
Simple interest I = P × r × t = $1000 × 3% × 6 = $180.
8. $600 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$168
Simple interest I = P × r × t = $600 × 7% × 4 = $168.
9. $300 is invested at 5% simple interest per year for 3 years. How much simple interest is earned?
$45
Simple interest I = P × r × t = $300 × 5% × 3 = $45.
10. $2000 is invested at 6% simple interest per year for 3 years. How much simple interest is earned?
$360
Simple interest I = P × r × t = $2000 × 6% × 3 = $360.
11. $300 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$30
Simple interest I = P × r × t = $300 × 2% × 5 = $30.
12. $1400 is invested at 3% simple interest per year for 2 years. How much simple interest is earned?
$84
Simple interest I = P × r × t = $1400 × 3% × 2 = $84.

12 questions · Seed 104744 · Age guidance, not curriculum certification