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Simple-Interest-Worksheet-with-Key

The document provides a guide on calculating Simple Interest using the formula I = Prt, where I is interest, P is principal, r is the rate, and t is time. It includes ten problems with their solutions related to investments and loans, demonstrating how to determine interest rates, time periods, and amounts earned. The document is structured as a worksheet for practice and assessment.

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hanaishaa1805
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37 views2 pages

Simple-Interest-Worksheet-with-Key

The document provides a guide on calculating Simple Interest using the formula I = Prt, where I is interest, P is principal, r is the rate, and t is time. It includes ten problems with their solutions related to investments and loans, demonstrating how to determine interest rates, time periods, and amounts earned. The document is structured as a worksheet for practice and assessment.

Uploaded by

hanaishaa1805
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. You invested $101 and received $106.05 after one year. What was the interest rate?

2. If you received $175.84 on $314 invested at a rate of 7%, for how long did you invest the principal?

3. What is the interest rate if a principal of $213 earns $42.60 in interest in five years?

4. How much interest is earned on $124 at 4% for one year?

5. At what rate was an investment made that obtains $50.40 on $210 over four years?

6. If a loan is taken out for $318 at 9% and costs $171.72, how long was the loan for?

7. What was the interest rate if your balance on an investment of $555 at the end of six years is $821.40?

8. If a loan is taken out for $991 at 3% and costs $267.57, how long was the loan for?

9. If the balance at the end of eight years on an investment of $196 that has been invested at a rate of 9%
is $337.12, how much was the interest?

10. How much interest does a $276 investment earn at 9% over seven years?

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. You invested $101 and received $106.05 after one year. What was the interest rate?
5%

2. If you received $175.84 on $314 invested at a rate of 7%, for how long did you invest the principal?
eight years

3. What is the interest rate if a principal of $213 earns $42.60 in interest in five years?
4%

4. How much interest is earned on $124 at 4% for one year?


$4.96

5. At what rate was an investment made that obtains $50.40 on $210 over four years?
6%

6. If a loan is taken out for $318 at 9% and costs $171.72, how long was the loan for?
six years

7. What was the interest rate if your balance on an investment of $555 at the end of six years is $821.40?
8%

8. If a loan is taken out for $991 at 3% and costs $267.57, how long was the loan for?
nine years

9. If the balance at the end of eight years on an investment of $196 that has been invested at a rate of 9%
is $337.12, how much was the interest?
$141.12

10. How much interest does a $276 investment earn at 9% over seven years?
$173.88

http://worksheetplace.com Score: /10

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