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. $1500 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$1500 · 7% · 4 · Simple interest & savings
2. $1300 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$1300 · 2% · 3 · Simple interest & savings
3. $200 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$200 · 4% · 6 · Simple interest & savings
4. $1600 is invested at 10% simple interest per year for 2 years. How much simple interest is earned?
$1600 · 10% · 2 · Simple interest & savings
5. $1100 is invested at 6% simple interest per year for 5 years. How much simple interest is earned?
$1100 · 6% · 5 · Simple interest & savings
6. $600 is invested at 3% simple interest per year for 5 years. How much simple interest is earned?
$600 · 3% · 5 · Simple interest & savings
7. $500 is invested at 9% simple interest per year for 3 years. How much simple interest is earned?
$500 · 9% · 3 · Simple interest & savings
8. $2000 is invested at 2% simple interest per year for 2 years. How much simple interest is earned?
$2000 · 2% · 2 · Simple interest & savings
9. $300 is invested at 8% simple interest per year for 5 years. How much simple interest is earned?
$300 · 8% · 5 · Simple interest & savings
10. $2000 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$2000 · 7% · 4 · Simple interest & savings
11. $800 is invested at 10% simple interest per year for 5 years. How much simple interest is earned?
$800 · 10% · 5 · Simple interest & savings
12. $200 is invested at 3% simple interest per year for 1 year. How much simple interest is earned?
$200 · 3% · 1 · Simple interest & savings

12 questions · Seed 60 · 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. $1500 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$420
Simple interest I = P × r × t = $1500 × 7% × 4 = $420.
2. $1300 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$78
Simple interest I = P × r × t = $1300 × 2% × 3 = $78.
3. $200 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$48
Simple interest I = P × r × t = $200 × 4% × 6 = $48.
4. $1600 is invested at 10% simple interest per year for 2 years. How much simple interest is earned?
$320
Simple interest I = P × r × t = $1600 × 10% × 2 = $320.
5. $1100 is invested at 6% simple interest per year for 5 years. How much simple interest is earned?
$330
Simple interest I = P × r × t = $1100 × 6% × 5 = $330.
6. $600 is invested at 3% simple interest per year for 5 years. How much simple interest is earned?
$90
Simple interest I = P × r × t = $600 × 3% × 5 = $90.
7. $500 is invested at 9% simple interest per year for 3 years. How much simple interest is earned?
$135
Simple interest I = P × r × t = $500 × 9% × 3 = $135.
8. $2000 is invested at 2% simple interest per year for 2 years. How much simple interest is earned?
$80
Simple interest I = P × r × t = $2000 × 2% × 2 = $80.
9. $300 is invested at 8% simple interest per year for 5 years. How much simple interest is earned?
$120
Simple interest I = P × r × t = $300 × 8% × 5 = $120.
10. $2000 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$560
Simple interest I = P × r × t = $2000 × 7% × 4 = $560.
11. $800 is invested at 10% simple interest per year for 5 years. How much simple interest is earned?
$400
Simple interest I = P × r × t = $800 × 10% × 5 = $400.
12. $200 is invested at 3% simple interest per year for 1 year. How much simple interest is earned?
$6
Simple interest I = P × r × t = $200 × 3% × 1 = $6.

12 questions · Seed 60 · Age guidance, not curriculum certification

Worksheet StudioPractice pack · Ages 16-18

Simple interest & savings

Take your time. Show your thinking.

1. $1500 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$1500 · 7% · 4 · Simple interest & savings
2. $1300 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$1300 · 2% · 3 · Simple interest & savings
3. $200 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$200 · 4% · 6 · Simple interest & savings
4. $1600 is invested at 10% simple interest per year for 2 years. How much simple interest is earned?
$1600 · 10% · 2 · Simple interest & savings
5. $1100 is invested at 6% simple interest per year for 5 years. How much simple interest is earned?
$1100 · 6% · 5 · Simple interest & savings
6. $600 is invested at 3% simple interest per year for 5 years. How much simple interest is earned?
$600 · 3% · 5 · Simple interest & savings
7. $500 is invested at 9% simple interest per year for 3 years. How much simple interest is earned?
$500 · 9% · 3 · Simple interest & savings
8. $2000 is invested at 2% simple interest per year for 2 years. How much simple interest is earned?
$2000 · 2% · 2 · Simple interest & savings
9. $300 is invested at 8% simple interest per year for 5 years. How much simple interest is earned?
$300 · 8% · 5 · Simple interest & savings
10. $2000 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$2000 · 7% · 4 · Simple interest & savings
11. $800 is invested at 10% simple interest per year for 5 years. How much simple interest is earned?
$800 · 10% · 5 · Simple interest & savings
12. $200 is invested at 3% simple interest per year for 1 year. How much simple interest is earned?
$200 · 3% · 1 · Simple interest & savings

12 questions · Seed 60 · Age guidance, not curriculum certification

Worksheet StudioAnswer key · Ages 16-18

Simple interest & savings

Answers and reasoning. Review before teaching.

1. $1500 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$420
Simple interest I = P × r × t = $1500 × 7% × 4 = $420.
2. $1300 is invested at 2% simple interest per year for 3 years. How much simple interest is earned?
$78
Simple interest I = P × r × t = $1300 × 2% × 3 = $78.
3. $200 is invested at 4% simple interest per year for 6 years. How much simple interest is earned?
$48
Simple interest I = P × r × t = $200 × 4% × 6 = $48.
4. $1600 is invested at 10% simple interest per year for 2 years. How much simple interest is earned?
$320
Simple interest I = P × r × t = $1600 × 10% × 2 = $320.
5. $1100 is invested at 6% simple interest per year for 5 years. How much simple interest is earned?
$330
Simple interest I = P × r × t = $1100 × 6% × 5 = $330.
6. $600 is invested at 3% simple interest per year for 5 years. How much simple interest is earned?
$90
Simple interest I = P × r × t = $600 × 3% × 5 = $90.
7. $500 is invested at 9% simple interest per year for 3 years. How much simple interest is earned?
$135
Simple interest I = P × r × t = $500 × 9% × 3 = $135.
8. $2000 is invested at 2% simple interest per year for 2 years. How much simple interest is earned?
$80
Simple interest I = P × r × t = $2000 × 2% × 2 = $80.
9. $300 is invested at 8% simple interest per year for 5 years. How much simple interest is earned?
$120
Simple interest I = P × r × t = $300 × 8% × 5 = $120.
10. $2000 is invested at 7% simple interest per year for 4 years. How much simple interest is earned?
$560
Simple interest I = P × r × t = $2000 × 7% × 4 = $560.
11. $800 is invested at 10% simple interest per year for 5 years. How much simple interest is earned?
$400
Simple interest I = P × r × t = $800 × 10% × 5 = $400.
12. $200 is invested at 3% simple interest per year for 1 year. How much simple interest is earned?
$6
Simple interest I = P × r × t = $200 × 3% × 1 = $6.

12 questions · Seed 60 · Age guidance, not curriculum certification