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. $1400 is invested at 2% simple interest per year for 4 years. How much simple interest is earned?
$1400 · 2% · 4 · Simple interest & savings
2. $500 is invested at 2% simple interest per year for 1 year. How much simple interest is earned?
$500 · 2% · 1 · Simple interest & savings
3. $1600 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$1600 · 2% · 5 · Simple interest & savings
4. $100 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$100 · 7% · 1 · Simple interest & savings
5. $1400 is invested at 5% simple interest per year for 5 years. How much simple interest is earned?
$1400 · 5% · 5 · Simple interest & savings
6. $200 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$200 · 7% · 1 · Simple interest & savings
7. $1000 is invested at 9% simple interest per year for 2 years. How much simple interest is earned?
$1000 · 9% · 2 · Simple interest & savings
8. $1200 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$1200 · 2% · 5 · Simple interest & savings
9. $1300 is invested at 6% simple interest per year for 6 years. How much simple interest is earned?
$1300 · 6% · 6 · Simple interest & savings
10. $700 is invested at 3% simple interest per year for 5 years. How much simple interest is earned?
$700 · 3% · 5 · Simple interest & savings
11. $1400 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$1400 · 7% · 1 · Simple interest & savings
12. $1800 is invested at 8% simple interest per year for 6 years. How much simple interest is earned?
$1800 · 8% · 6 · Simple interest & savings

12 questions · Seed 44 · 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. $1400 is invested at 2% simple interest per year for 4 years. How much simple interest is earned?
$112
Simple interest I = P × r × t = $1400 × 2% × 4 = $112.
2. $500 is invested at 2% simple interest per year for 1 year. How much simple interest is earned?
$10
Simple interest I = P × r × t = $500 × 2% × 1 = $10.
3. $1600 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$160
Simple interest I = P × r × t = $1600 × 2% × 5 = $160.
4. $100 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$7
Simple interest I = P × r × t = $100 × 7% × 1 = $7.
5. $1400 is invested at 5% simple interest per year for 5 years. How much simple interest is earned?
$350
Simple interest I = P × r × t = $1400 × 5% × 5 = $350.
6. $200 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$14
Simple interest I = P × r × t = $200 × 7% × 1 = $14.
7. $1000 is invested at 9% simple interest per year for 2 years. How much simple interest is earned?
$180
Simple interest I = P × r × t = $1000 × 9% × 2 = $180.
8. $1200 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$120
Simple interest I = P × r × t = $1200 × 2% × 5 = $120.
9. $1300 is invested at 6% simple interest per year for 6 years. How much simple interest is earned?
$468
Simple interest I = P × r × t = $1300 × 6% × 6 = $468.
10. $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.
11. $1400 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$98
Simple interest I = P × r × t = $1400 × 7% × 1 = $98.
12. $1800 is invested at 8% simple interest per year for 6 years. How much simple interest is earned?
$864
Simple interest I = P × r × t = $1800 × 8% × 6 = $864.

12 questions · Seed 44 · Age guidance, not curriculum certification

Worksheet StudioPractice pack · Ages 16-18

Simple interest & savings

Take your time. Show your thinking.

1. $1400 is invested at 2% simple interest per year for 4 years. How much simple interest is earned?
$1400 · 2% · 4 · Simple interest & savings
2. $500 is invested at 2% simple interest per year for 1 year. How much simple interest is earned?
$500 · 2% · 1 · Simple interest & savings
3. $1600 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$1600 · 2% · 5 · Simple interest & savings
4. $100 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$100 · 7% · 1 · Simple interest & savings
5. $1400 is invested at 5% simple interest per year for 5 years. How much simple interest is earned?
$1400 · 5% · 5 · Simple interest & savings
6. $200 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$200 · 7% · 1 · Simple interest & savings
7. $1000 is invested at 9% simple interest per year for 2 years. How much simple interest is earned?
$1000 · 9% · 2 · Simple interest & savings
8. $1200 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$1200 · 2% · 5 · Simple interest & savings
9. $1300 is invested at 6% simple interest per year for 6 years. How much simple interest is earned?
$1300 · 6% · 6 · Simple interest & savings
10. $700 is invested at 3% simple interest per year for 5 years. How much simple interest is earned?
$700 · 3% · 5 · Simple interest & savings
11. $1400 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$1400 · 7% · 1 · Simple interest & savings
12. $1800 is invested at 8% simple interest per year for 6 years. How much simple interest is earned?
$1800 · 8% · 6 · Simple interest & savings

12 questions · Seed 44 · Age guidance, not curriculum certification

Worksheet StudioAnswer key · Ages 16-18

Simple interest & savings

Answers and reasoning. Review before teaching.

1. $1400 is invested at 2% simple interest per year for 4 years. How much simple interest is earned?
$112
Simple interest I = P × r × t = $1400 × 2% × 4 = $112.
2. $500 is invested at 2% simple interest per year for 1 year. How much simple interest is earned?
$10
Simple interest I = P × r × t = $500 × 2% × 1 = $10.
3. $1600 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$160
Simple interest I = P × r × t = $1600 × 2% × 5 = $160.
4. $100 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$7
Simple interest I = P × r × t = $100 × 7% × 1 = $7.
5. $1400 is invested at 5% simple interest per year for 5 years. How much simple interest is earned?
$350
Simple interest I = P × r × t = $1400 × 5% × 5 = $350.
6. $200 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$14
Simple interest I = P × r × t = $200 × 7% × 1 = $14.
7. $1000 is invested at 9% simple interest per year for 2 years. How much simple interest is earned?
$180
Simple interest I = P × r × t = $1000 × 9% × 2 = $180.
8. $1200 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$120
Simple interest I = P × r × t = $1200 × 2% × 5 = $120.
9. $1300 is invested at 6% simple interest per year for 6 years. How much simple interest is earned?
$468
Simple interest I = P × r × t = $1300 × 6% × 6 = $468.
10. $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.
11. $1400 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$98
Simple interest I = P × r × t = $1400 × 7% × 1 = $98.
12. $1800 is invested at 8% simple interest per year for 6 years. How much simple interest is earned?
$864
Simple interest I = P × r × t = $1800 × 8% × 6 = $864.

12 questions · Seed 44 · Age guidance, not curriculum certification