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. $1300 is invested at 4% simple interest per year for 2 years. How much simple interest is earned?
$1300 · 4% · 2 · Simple interest & savings
2. $1300 is invested at 8% simple interest per year for 4 years. How much simple interest is earned?
$1300 · 8% · 4 · Simple interest & savings
3. $600 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$600 · 2% · 5 · Simple interest & savings
4. $100 is invested at 4% simple interest per year for 3 years. How much simple interest is earned?
$100 · 4% · 3 · Simple interest & savings
5. $1300 is invested at 6% simple interest per year for 1 year. How much simple interest is earned?
$1300 · 6% · 1 · Simple interest & savings
6. $1200 is invested at 7% simple interest per year for 5 years. How much simple interest is earned?
$1200 · 7% · 5 · Simple interest & savings
7. $1200 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$1200 · 2% · 3 · Simple interest & savings
8. $1500 is invested at 5% simple interest per year for 2 years. How much simple interest is earned?
$1500 · 5% · 2 · Simple interest & savings
9. $700 is invested at 7% simple interest per year for 2 years. How much simple interest is earned?
$700 · 7% · 2 · Simple interest & savings
10. $1200 is invested at 5% simple interest per year for 6 years. How much simple interest is earned?
$1200 · 5% · 6 · Simple interest & savings
11. $400 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$400 · 4% · 6 · Simple interest & savings
12. $2000 is invested at 7% simple interest per year for 3 years. How much simple interest is earned?
$2000 · 7% · 3 · Simple interest & savings

12 questions · Seed 57 · 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. $1300 is invested at 4% simple interest per year for 2 years. How much simple interest is earned?
$104
Simple interest I = P × r × t = $1300 × 4% × 2 = $104.
2. $1300 is invested at 8% simple interest per year for 4 years. How much simple interest is earned?
$416
Simple interest I = P × r × t = $1300 × 8% × 4 = $416.
3. $600 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$60
Simple interest I = P × r × t = $600 × 2% × 5 = $60.
4. $100 is invested at 4% simple interest per year for 3 years. How much simple interest is earned?
$12
Simple interest I = P × r × t = $100 × 4% × 3 = $12.
5. $1300 is invested at 6% simple interest per year for 1 year. How much simple interest is earned?
$78
Simple interest I = P × r × t = $1300 × 6% × 1 = $78.
6. $1200 is invested at 7% simple interest per year for 5 years. How much simple interest is earned?
$420
Simple interest I = P × r × t = $1200 × 7% × 5 = $420.
7. $1200 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$72
Simple interest I = P × r × t = $1200 × 2% × 3 = $72.
8. $1500 is invested at 5% simple interest per year for 2 years. How much simple interest is earned?
$150
Simple interest I = P × r × t = $1500 × 5% × 2 = $150.
9. $700 is invested at 7% simple interest per year for 2 years. How much simple interest is earned?
$98
Simple interest I = P × r × t = $700 × 7% × 2 = $98.
10. $1200 is invested at 5% simple interest per year for 6 years. How much simple interest is earned?
$360
Simple interest I = P × r × t = $1200 × 5% × 6 = $360.
11. $400 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$96
Simple interest I = P × r × t = $400 × 4% × 6 = $96.
12. $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.

12 questions · Seed 57 · Age guidance, not curriculum certification

Worksheet StudioPractice pack · Ages 16-18

Simple interest & savings

Take your time. Show your thinking.

1. $1300 is invested at 4% simple interest per year for 2 years. How much simple interest is earned?
$1300 · 4% · 2 · Simple interest & savings
2. $1300 is invested at 8% simple interest per year for 4 years. How much simple interest is earned?
$1300 · 8% · 4 · Simple interest & savings
3. $600 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$600 · 2% · 5 · Simple interest & savings
4. $100 is invested at 4% simple interest per year for 3 years. How much simple interest is earned?
$100 · 4% · 3 · Simple interest & savings
5. $1300 is invested at 6% simple interest per year for 1 year. How much simple interest is earned?
$1300 · 6% · 1 · Simple interest & savings
6. $1200 is invested at 7% simple interest per year for 5 years. How much simple interest is earned?
$1200 · 7% · 5 · Simple interest & savings
7. $1200 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$1200 · 2% · 3 · Simple interest & savings
8. $1500 is invested at 5% simple interest per year for 2 years. How much simple interest is earned?
$1500 · 5% · 2 · Simple interest & savings
9. $700 is invested at 7% simple interest per year for 2 years. How much simple interest is earned?
$700 · 7% · 2 · Simple interest & savings
10. $1200 is invested at 5% simple interest per year for 6 years. How much simple interest is earned?
$1200 · 5% · 6 · Simple interest & savings
11. $400 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$400 · 4% · 6 · Simple interest & savings
12. $2000 is invested at 7% simple interest per year for 3 years. How much simple interest is earned?
$2000 · 7% · 3 · Simple interest & savings

12 questions · Seed 57 · Age guidance, not curriculum certification

Worksheet StudioAnswer key · Ages 16-18

Simple interest & savings

Answers and reasoning. Review before teaching.

1. $1300 is invested at 4% simple interest per year for 2 years. How much simple interest is earned?
$104
Simple interest I = P × r × t = $1300 × 4% × 2 = $104.
2. $1300 is invested at 8% simple interest per year for 4 years. How much simple interest is earned?
$416
Simple interest I = P × r × t = $1300 × 8% × 4 = $416.
3. $600 is invested at 2% simple interest per year for 5 years. How much simple interest is earned?
$60
Simple interest I = P × r × t = $600 × 2% × 5 = $60.
4. $100 is invested at 4% simple interest per year for 3 years. How much simple interest is earned?
$12
Simple interest I = P × r × t = $100 × 4% × 3 = $12.
5. $1300 is invested at 6% simple interest per year for 1 year. How much simple interest is earned?
$78
Simple interest I = P × r × t = $1300 × 6% × 1 = $78.
6. $1200 is invested at 7% simple interest per year for 5 years. How much simple interest is earned?
$420
Simple interest I = P × r × t = $1200 × 7% × 5 = $420.
7. $1200 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$72
Simple interest I = P × r × t = $1200 × 2% × 3 = $72.
8. $1500 is invested at 5% simple interest per year for 2 years. How much simple interest is earned?
$150
Simple interest I = P × r × t = $1500 × 5% × 2 = $150.
9. $700 is invested at 7% simple interest per year for 2 years. How much simple interest is earned?
$98
Simple interest I = P × r × t = $700 × 7% × 2 = $98.
10. $1200 is invested at 5% simple interest per year for 6 years. How much simple interest is earned?
$360
Simple interest I = P × r × t = $1200 × 5% × 6 = $360.
11. $400 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$96
Simple interest I = P × r × t = $400 × 4% × 6 = $96.
12. $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.

12 questions · Seed 57 · Age guidance, not curriculum certification