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

Level 2

This math topic is focused on calculating simple interest using the basic formula combining principal, rate, and time. It is part of a broader unit on percents and simple interest. Students are given various scenarios where they must compute the interest earned based on different principals, interest rates, and time periods specified for each problem. The problems are presented with multiple-choice answers, enhancing the learners' ability to solve practical financial mathematics problems regarding simple interest.

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 Worksheet

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Math worksheet on 'Interest (Simple) - Interest from Principle, Rate, and Time (Level 2)'. Part of a broader unit on 'Percents and Simple Interest - Intro' Learn online: app.mobius.academy/math/units/percents_and_simple_interest_intro/
1
What is the simple interest in this situation?
A LaTex expression showing \begin{align*}\text{Principle } &= \$700\\ \text{Rate } &= 30\%\\ \text{Time } &= 1\text{yrs}\\ \\ \text{Interest } &= \$?\end{align*}
a
147
b
357
c
126
d
273
e
210
f
63
2
What is the simple interest in this situation?
A LaTex expression showing \begin{align*}\text{Principle } &= \$500\\ \text{Rate } &= 30\%\\ \text{Time } &= 3\text{yrs}\\ \\ \text{Interest } &= \$?\end{align*}
a
360
b
90
c
405
d
495
e
765
f
450
3
What is the simple interest in this situation?
A LaTex expression showing \begin{align*}\text{Principle } &= \$700\\ \text{Rate } &= 10\%\\ \text{Time } &= 9\text{yrs}\\ \\ \text{Interest } &= \$?\end{align*}
a
630
b
819
c
189
d
441
e
567
f
63
4
What is the simple interest in this situation?
A LaTex expression showing \begin{align*}\text{Principle } &= \$300\\ \text{Rate } &= 20\%\\ \text{Time } &= 3\text{yrs}\\ \\ \text{Interest } &= \$?\end{align*}
a
18
b
342
c
180
d
216
e
54
f
144
5
What is the simple interest in this situation?
A LaTex expression showing \begin{align*}\text{Principle } &= \$800\\ \text{Rate } &= 30\%\\ \text{Time } &= 1\text{yrs}\\ \\ \text{Interest } &= \$?\end{align*}
a
264
b
120
c
240
d
288
e
48
f
144
6
What is the simple interest in this situation?
A LaTex expression showing \begin{align*}\text{Principle } &= \$200\\ \text{Rate } &= 20\%\\ \text{Time } &= 2\text{yrs}\\ \\ \text{Interest } &= \$?\end{align*}
a
48
b
152
c
144
d
80
e
56
f
96
7
What is the simple interest in this situation?
A LaTex expression showing \begin{align*}\text{Principle } &= \$300\\ \text{Rate } &= 30\%\\ \text{Time } &= 5\text{yrs}\\ \\ \text{Interest } &= \$?\end{align*}
a
855
b
360
c
540
d
765
e
450
f
45