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Interest (Simple) - Interest from Principle, Rate, and Time (Level 1)

This math topic focuses on calculating simple interest using the principal, rate, and time. It covers the fundamental concept of simple interest within the broader unit of percentages and simple interest. The problems provided allow students to apply the formula for simple interest to different scenarios involving different values of principal, rates, and time periods. Answers are given in multiple-choice format, challenging students to perform calculations and select the correct option. This topic serves as a practical application of simple interest in real-life financial contexts.

Work on practice problems directly here, or download the printable pdf worksheet to practice offline.

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Interest (Simple) - Interest from Principle, Rate, and Time

Complete these online problems with 80% or 4 correct answers in a row. Results are immediate.

What is the simple interest in this situation?

\text{Principle } = 200\\ \text{Rate } = 10\%\\ \text{Time } = 5\text{yrs}\\ \\ \text{Interest } = $?

Interest (Simple) - Interest from Principle, Rate, and Time Worksheet

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Math worksheet on 'Interest (Simple) - Interest from Principle, Rate, and Time (Level 1)'. Part of a broader unit on 'Percents and Simple Interest' Learn online: app.mobius.academy/math/units/percents_and_simple_interest_intro/
1
A LaTex expression showing \text{Principle } = 600\\ \text{Rate } = 20\%\\ \text{Time } = 6\text{yrs}\\ \\ \text{Interest } = $?
What is the simple interest in this situation?
a
7,200
b
100,800
c
57,600
d
14,400
e
28,800
f
72,000
2
A LaTex expression showing \text{Principle } = 600\\ \text{Rate } = 20\%\\ \text{Time } = 3\text{yrs}\\ \\ \text{Interest } = $?
What is the simple interest in this situation?
a
36,000
b
43,200
c
18,000
d
50,400
e
3,600
f
10,800
3
A LaTex expression showing \text{Principle } = 100\\ \text{Rate } = 10\%\\ \text{Time } = 9\text{yrs}\\ \\ \text{Interest } = $?
What is the simple interest in this situation?
a
13,500
b
12,600
c
9,000
d
16,200
e
7,200
f
15,300
4
A LaTex expression showing \text{Principle } = 200\\ \text{Rate } = 10\%\\ \text{Time } = 7\text{yrs}\\ \\ \text{Interest } = $?
What is the simple interest in this situation?
a
21,000
b
4,200
c
14,000
d
2,800
e
5,600
f
12,600
5
A LaTex expression showing \text{Principle } = 700\\ \text{Rate } = 30\%\\ \text{Time } = 7\text{yrs}\\ \\ \text{Interest } = $?
What is the simple interest in this situation?
a
14,700
b
161,700
c
205,800
d
147,000
e
58,800
f
117,600
6
A LaTex expression showing \text{Principle } = 900\\ \text{Rate } = 20\%\\ \text{Time } = 5\text{yrs}\\ \\ \text{Interest } = $?
What is the simple interest in this situation?
a
90,000
b
54,000
c
162,000
d
99,000
e
63,000
f
81,000
7
A LaTex expression showing \text{Principle } = 300\\ \text{Rate } = 10\%\\ \text{Time } = 3\text{yrs}\\ \\ \text{Interest } = $?
What is the simple interest in this situation?
a
17,100
b
3,600
c
7,200
d
2,700
e
6,300
f
9,000