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. $400 is invested at 7% simple interest per year for 3 years. How much simple interest is earned?
$400 · 7% · 3 · Simple interest & savings
2. $100 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$100 · 2% · 3 · Simple interest & savings
3. $1500 is invested at 8% simple interest per year for 2 years. How much simple interest is earned?
$1500 · 8% · 2 · Simple interest & savings
4. $1800 is invested at 7% simple interest per year for 5 years. How much simple interest is earned?
$1800 · 7% · 5 · Simple interest & savings
5. $200 is invested at 8% simple interest per year for 1 year. How much simple interest is earned?
$200 · 8% · 1 · Simple interest & savings
6. $1000 is invested at 3% simple interest per year for 6 years. How much simple interest is earned?
$1000 · 3% · 6 · Simple interest & savings
7. $200 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$200 · 7% · 1 · Simple interest & savings
8. $1700 is invested at 2% simple interest per year for 4 years. How much simple interest is earned?
$1700 · 2% · 4 · Simple interest & savings
9. $1700 is invested at 2% simple interest per year for 2 years. How much simple interest is earned?
$1700 · 2% · 2 · Simple interest & savings
10. $1400 is invested at 5% simple interest per year for 1 year. How much simple interest is earned?
$1400 · 5% · 1 · Simple interest & savings
11. $1800 is invested at 9% simple interest per year for 4 years. How much simple interest is earned?
$1800 · 9% · 4 · Simple interest & savings
12. $1000 is invested at 5% simple interest per year for 1 year. How much simple interest is earned?
$1000 · 5% · 1 · Simple interest & savings

12 questions · Seed 51 · 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. $400 is invested at 7% simple interest per year for 3 years. How much simple interest is earned?
$84
Simple interest I = P × r × t = $400 × 7% × 3 = $84.
2. $100 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$6
Simple interest I = P × r × t = $100 × 2% × 3 = $6.
3. $1500 is invested at 8% simple interest per year for 2 years. How much simple interest is earned?
$240
Simple interest I = P × r × t = $1500 × 8% × 2 = $240.
4. $1800 is invested at 7% simple interest per year for 5 years. How much simple interest is earned?
$630
Simple interest I = P × r × t = $1800 × 7% × 5 = $630.
5. $200 is invested at 8% simple interest per year for 1 year. How much simple interest is earned?
$16
Simple interest I = P × r × t = $200 × 8% × 1 = $16.
6. $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.
7. $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.
8. $1700 is invested at 2% simple interest per year for 4 years. How much simple interest is earned?
$136
Simple interest I = P × r × t = $1700 × 2% × 4 = $136.
9. $1700 is invested at 2% simple interest per year for 2 years. How much simple interest is earned?
$68
Simple interest I = P × r × t = $1700 × 2% × 2 = $68.
10. $1400 is invested at 5% simple interest per year for 1 year. How much simple interest is earned?
$70
Simple interest I = P × r × t = $1400 × 5% × 1 = $70.
11. $1800 is invested at 9% simple interest per year for 4 years. How much simple interest is earned?
$648
Simple interest I = P × r × t = $1800 × 9% × 4 = $648.
12. $1000 is invested at 5% simple interest per year for 1 year. How much simple interest is earned?
$50
Simple interest I = P × r × t = $1000 × 5% × 1 = $50.

12 questions · Seed 51 · Age guidance, not curriculum certification

Worksheet StudioPractice pack · Ages 16-18

Simple interest & savings

Take your time. Show your thinking.

1. $400 is invested at 7% simple interest per year for 3 years. How much simple interest is earned?
$400 · 7% · 3 · Simple interest & savings
2. $100 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$100 · 2% · 3 · Simple interest & savings
3. $1500 is invested at 8% simple interest per year for 2 years. How much simple interest is earned?
$1500 · 8% · 2 · Simple interest & savings
4. $1800 is invested at 7% simple interest per year for 5 years. How much simple interest is earned?
$1800 · 7% · 5 · Simple interest & savings
5. $200 is invested at 8% simple interest per year for 1 year. How much simple interest is earned?
$200 · 8% · 1 · Simple interest & savings
6. $1000 is invested at 3% simple interest per year for 6 years. How much simple interest is earned?
$1000 · 3% · 6 · Simple interest & savings
7. $200 is invested at 7% simple interest per year for 1 year. How much simple interest is earned?
$200 · 7% · 1 · Simple interest & savings
8. $1700 is invested at 2% simple interest per year for 4 years. How much simple interest is earned?
$1700 · 2% · 4 · Simple interest & savings
9. $1700 is invested at 2% simple interest per year for 2 years. How much simple interest is earned?
$1700 · 2% · 2 · Simple interest & savings
10. $1400 is invested at 5% simple interest per year for 1 year. How much simple interest is earned?
$1400 · 5% · 1 · Simple interest & savings
11. $1800 is invested at 9% simple interest per year for 4 years. How much simple interest is earned?
$1800 · 9% · 4 · Simple interest & savings
12. $1000 is invested at 5% simple interest per year for 1 year. How much simple interest is earned?
$1000 · 5% · 1 · Simple interest & savings

12 questions · Seed 51 · Age guidance, not curriculum certification

Worksheet StudioAnswer key · Ages 16-18

Simple interest & savings

Answers and reasoning. Review before teaching.

1. $400 is invested at 7% simple interest per year for 3 years. How much simple interest is earned?
$84
Simple interest I = P × r × t = $400 × 7% × 3 = $84.
2. $100 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$6
Simple interest I = P × r × t = $100 × 2% × 3 = $6.
3. $1500 is invested at 8% simple interest per year for 2 years. How much simple interest is earned?
$240
Simple interest I = P × r × t = $1500 × 8% × 2 = $240.
4. $1800 is invested at 7% simple interest per year for 5 years. How much simple interest is earned?
$630
Simple interest I = P × r × t = $1800 × 7% × 5 = $630.
5. $200 is invested at 8% simple interest per year for 1 year. How much simple interest is earned?
$16
Simple interest I = P × r × t = $200 × 8% × 1 = $16.
6. $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.
7. $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.
8. $1700 is invested at 2% simple interest per year for 4 years. How much simple interest is earned?
$136
Simple interest I = P × r × t = $1700 × 2% × 4 = $136.
9. $1700 is invested at 2% simple interest per year for 2 years. How much simple interest is earned?
$68
Simple interest I = P × r × t = $1700 × 2% × 2 = $68.
10. $1400 is invested at 5% simple interest per year for 1 year. How much simple interest is earned?
$70
Simple interest I = P × r × t = $1400 × 5% × 1 = $70.
11. $1800 is invested at 9% simple interest per year for 4 years. How much simple interest is earned?
$648
Simple interest I = P × r × t = $1800 × 9% × 4 = $648.
12. $1000 is invested at 5% simple interest per year for 1 year. How much simple interest is earned?
$50
Simple interest I = P × r × t = $1000 × 5% × 1 = $50.

12 questions · Seed 51 · Age guidance, not curriculum certification