Simple Interest Worksheet

Calculate simple interest, principal, rate, and time for financial literacy problems.

Grade 10 Math Financial LiteracySimple Interest

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Includes

Short AnswerFill in the BlanksMultiple ChoiceTrue / False

Standards

CCSS.MATH.CONTENT.7.RP.A.3CCSS.MATH.CONTENT.HSN.Q.A.2

Topics

simple interestfinancial literacymathgrade 10

6 sections · Free to use · Printable

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Simple Interest Worksheet

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Read each question carefully and calculate the simple interest, principal, rate, or time as required. Show all your work.

1. Calculate the simple interest on a principal of $5,000 at an annual interest rate of 4% for 3 years.

2. Sarah borrowed $1,500 at a 6% annual interest rate. If she pays it back in 2.5 years, how much simple interest will she pay?

1. If the simple interest earned is $300 on an investment for 5 years at a 3% annual rate, the principal amount was .

2. An investment of $2,000 earned $240 in simple interest over 4 years. The annual interest rate was .

3. To earn $1,000 in simple interest on a principal of $10,000 at a 5% annual rate, the money must be invested for years.

1. The formula for simple interest is:

I = P + R + T

I = P * R * T

I = P / (R * T)

I = (P + R) * T

2. What does 'P' represent in the simple interest formula?

Profit

Percentage

Principal

Payment

1. Simple interest is calculated only on the initial principal amount.

True

False

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