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Simple Interest Worksheet 03

The document discusses simple interest calculations. It provides the simple interest formula: I = Prt, where I is interest, P is principal, r is the interest rate, and t is time. It then provides 10 practice problems calculating simple interest based on given principal amounts, interest rates, and time periods. The problems are solved with the correct interest amounts calculated for each scenario.

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harshit07gg
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44 views2 pages

Simple Interest Worksheet 03

The document discusses simple interest calculations. It provides the simple interest formula: I = Prt, where I is interest, P is principal, r is the interest rate, and t is time. It then provides 10 practice problems calculating simple interest based on given principal amounts, interest rates, and time periods. The problems are solved with the correct interest amounts calculated for each scenario.

Uploaded by

harshit07gg
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Name___________________________________

Simple Interest
To remember the calculations for Simple Interest, remember I = Prt
I = Interest rate, P = Principal amount, r = rate in percentage, t = time in years.
Solve the Simple Interest Problems:
1. How much interest is earned on a principal of $900 invested at an interest rate of 7% for eight years?

2. How much interest is earned on a principal of $400 invested at an interest rate of 3% for seven years?

3. At what rate was an investment made that obtains $60.00 on $500 over two years?

4. If you put $300 in a savings account that pays 8% for one year what is the amount of money you will
have at the end of the one year?

5. If you borrow $700 for one year at an interest rate of 8%, how much interest will you pay?

6. If you invest $800 at an interest rate of 10%, how much money will you have after two years?

7. How much principal must be invested to earn $100.00 in five years at an interest rate of 4%?

8. How much interest is earned on $900 at 10% for one year?

9. If you put $600 in a savings account that pays 10% for one year what is the amount of money you will
have at the end of the one year?

10. How much principal must be invested to earn $12.00 in two years at an interest rate of 3%?

http://worksheetplace.com Score: /10


Name___________________________________

Simple Interest
To remember the calculations for Simple Interest, remember I = Prt
I = Interest rate, P = Principal amount, r = rate in percentage, t = time in years.
Solve the Simple Interest Problems:
1. How much interest is earned on a principal of $900 invested at an interest rate of 7% for eight years?
$504.00

2. How much interest is earned on a principal of $400 invested at an interest rate of 3% for seven years?
$84.00

3. At what rate was an investment made that obtains $60.00 on $500 over two years?
6%

4. If you put $300 in a savings account that pays 8% for one year what is the amount of money you will
have at the end of the one year?
$324.00

5. If you borrow $700 for one year at an interest rate of 8%, how much interest will you pay?
$56.00

6. If you invest $800 at an interest rate of 10%, how much money will you have after two years?
$960.00

7. How much principal must be invested to earn $100.00 in five years at an interest rate of 4%?
$500

8. How much interest is earned on $900 at 10% for one year?


$90.00

9. If you put $600 in a savings account that pays 10% for one year what is the amount of money you will
have at the end of the one year?
$660.00

10. How much principal must be invested to earn $12.00 in two years at an interest rate of 3%?
$200

http://worksheetplace.com Score: /10

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