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. $1000 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$1000 · 4% · 6 · Simple interest & savings
2. $1000 is invested at 3% simple interest per year for 2 years. How much simple interest is earned?
$1000 · 3% · 2 · Simple interest & savings
3. $1000 is invested at 4% simple interest per year for 5 years. How much simple interest is earned?
$1000 · 4% · 5 · Simple interest & savings
4. $100 is invested at 10% simple interest per year for 6 years. How much simple interest is earned?
$100 · 10% · 6 · Simple interest & savings
5. $300 is invested at 6% simple interest per year for 5 years. How much simple interest is earned?
$300 · 6% · 5 · Simple interest & savings
6. $1500 is invested at 5% simple interest per year for 6 years. How much simple interest is earned?
$1500 · 5% · 6 · Simple interest & savings
7. $1300 is invested at 4% simple interest per year for 5 years. How much simple interest is earned?
$1300 · 4% · 5 · Simple interest & savings
8. $1100 is invested at 5% simple interest per year for 2 years. How much simple interest is earned?
$1100 · 5% · 2 · Simple interest & savings
9. $1700 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$1700 · 2% · 5 · Simple interest & savings
10. $600 is invested at 6% simple interest per year for 4 years. How much simple interest is earned?
$600 · 6% · 4 · Simple interest & savings
11. $1200 is invested at 4% simple interest per year for 4 years. How much simple interest is earned?
$1200 · 4% · 4 · Simple interest & savings
12. $600 is invested at 6% simple interest per year for 3 years. How much simple interest is earned?
$600 · 6% · 3 · Simple interest & savings

12 questions · Seed 104751 · 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. $1000 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$240
Simple interest I = P × r × t = $1000 × 4% × 6 = $240.
2. $1000 is invested at 3% simple interest per year for 2 years. How much simple interest is earned?
$60
Simple interest I = P × r × t = $1000 × 3% × 2 = $60.
3. $1000 is invested at 4% simple interest per year for 5 years. How much simple interest is earned?
$200
Simple interest I = P × r × t = $1000 × 4% × 5 = $200.
4. $100 is invested at 10% simple interest per year for 6 years. How much simple interest is earned?
$60
Simple interest I = P × r × t = $100 × 10% × 6 = $60.
5. $300 is invested at 6% simple interest per year for 5 years. How much simple interest is earned?
$90
Simple interest I = P × r × t = $300 × 6% × 5 = $90.
6. $1500 is invested at 5% simple interest per year for 6 years. How much simple interest is earned?
$450
Simple interest I = P × r × t = $1500 × 5% × 6 = $450.
7. $1300 is invested at 4% simple interest per year for 5 years. How much simple interest is earned?
$260
Simple interest I = P × r × t = $1300 × 4% × 5 = $260.
8. $1100 is invested at 5% simple interest per year for 2 years. How much simple interest is earned?
$110
Simple interest I = P × r × t = $1100 × 5% × 2 = $110.
9. $1700 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$170
Simple interest I = P × r × t = $1700 × 2% × 5 = $170.
10. $600 is invested at 6% simple interest per year for 4 years. How much simple interest is earned?
$144
Simple interest I = P × r × t = $600 × 6% × 4 = $144.
11. $1200 is invested at 4% simple interest per year for 4 years. How much simple interest is earned?
$192
Simple interest I = P × r × t = $1200 × 4% × 4 = $192.
12. $600 is invested at 6% simple interest per year for 3 years. How much simple interest is earned?
$108
Simple interest I = P × r × t = $600 × 6% × 3 = $108.

12 questions · Seed 104751 · Age guidance, not curriculum certification

Worksheet StudioPractice pack · Ages 16-18

Simple interest & savings

Take your time. Show your thinking.

1. $1000 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$1000 · 4% · 6 · Simple interest & savings
2. $1000 is invested at 3% simple interest per year for 2 years. How much simple interest is earned?
$1000 · 3% · 2 · Simple interest & savings
3. $1000 is invested at 4% simple interest per year for 5 years. How much simple interest is earned?
$1000 · 4% · 5 · Simple interest & savings
4. $100 is invested at 10% simple interest per year for 6 years. How much simple interest is earned?
$100 · 10% · 6 · Simple interest & savings
5. $300 is invested at 6% simple interest per year for 5 years. How much simple interest is earned?
$300 · 6% · 5 · Simple interest & savings
6. $1500 is invested at 5% simple interest per year for 6 years. How much simple interest is earned?
$1500 · 5% · 6 · Simple interest & savings
7. $1300 is invested at 4% simple interest per year for 5 years. How much simple interest is earned?
$1300 · 4% · 5 · Simple interest & savings
8. $1100 is invested at 5% simple interest per year for 2 years. How much simple interest is earned?
$1100 · 5% · 2 · Simple interest & savings
9. $1700 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$1700 · 2% · 5 · Simple interest & savings
10. $600 is invested at 6% simple interest per year for 4 years. How much simple interest is earned?
$600 · 6% · 4 · Simple interest & savings
11. $1200 is invested at 4% simple interest per year for 4 years. How much simple interest is earned?
$1200 · 4% · 4 · Simple interest & savings
12. $600 is invested at 6% simple interest per year for 3 years. How much simple interest is earned?
$600 · 6% · 3 · Simple interest & savings

12 questions · Seed 104751 · Age guidance, not curriculum certification

Worksheet StudioAnswer key · Ages 16-18

Simple interest & savings

Answers and reasoning. Review before teaching.

1. $1000 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$240
Simple interest I = P × r × t = $1000 × 4% × 6 = $240.
2. $1000 is invested at 3% simple interest per year for 2 years. How much simple interest is earned?
$60
Simple interest I = P × r × t = $1000 × 3% × 2 = $60.
3. $1000 is invested at 4% simple interest per year for 5 years. How much simple interest is earned?
$200
Simple interest I = P × r × t = $1000 × 4% × 5 = $200.
4. $100 is invested at 10% simple interest per year for 6 years. How much simple interest is earned?
$60
Simple interest I = P × r × t = $100 × 10% × 6 = $60.
5. $300 is invested at 6% simple interest per year for 5 years. How much simple interest is earned?
$90
Simple interest I = P × r × t = $300 × 6% × 5 = $90.
6. $1500 is invested at 5% simple interest per year for 6 years. How much simple interest is earned?
$450
Simple interest I = P × r × t = $1500 × 5% × 6 = $450.
7. $1300 is invested at 4% simple interest per year for 5 years. How much simple interest is earned?
$260
Simple interest I = P × r × t = $1300 × 4% × 5 = $260.
8. $1100 is invested at 5% simple interest per year for 2 years. How much simple interest is earned?
$110
Simple interest I = P × r × t = $1100 × 5% × 2 = $110.
9. $1700 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$170
Simple interest I = P × r × t = $1700 × 2% × 5 = $170.
10. $600 is invested at 6% simple interest per year for 4 years. How much simple interest is earned?
$144
Simple interest I = P × r × t = $600 × 6% × 4 = $144.
11. $1200 is invested at 4% simple interest per year for 4 years. How much simple interest is earned?
$192
Simple interest I = P × r × t = $1200 × 4% × 4 = $192.
12. $600 is invested at 6% simple interest per year for 3 years. How much simple interest is earned?
$108
Simple interest I = P × r × t = $600 × 6% × 3 = $108.

12 questions · Seed 104751 · Age guidance, not curriculum certification