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Year 7 Maths — Simple interest

Work out simple interest and the total amount, and find the rate or the time when the interest is known.

Name: ________________________

  1. 1.Find the simple interest on $2000 at 5% per year for 3 years. Give just the number.

  2. 2.Find the simple interest on $1200 at 10% per year for 1 year. Give just the number.

  3. 3.Find the simple interest on $600 at 12% per year for 5 years. Give just the number.

  4. 4.The principal and the rate stay the same, but the money is left for twice as long. What happens to the simple interest?

    • a) It is multiplied by itself
    • b) It doubles
    • c) It halves
    • d) It stays the same

  5. 5.The simple interest on $800 at 5% per year is $200. For how many years was the money invested?

  6. 6.The simple interest on $2500 for 4 years is $500. What is the rate per cent per year? Give just the number.

  7. 7.In a simple interest question, what does the rate tell you?

    • a) The total interest over the whole time
    • b) The interest earned on every 100 of the principal in one year
    • c) The number of years the money is kept for
    • d) The amount borrowed at the start

  8. 8.In every row the principal is $1000 and the rate is 10% per year. Match each length of time to the simple interest it earns.

    • 1 year
    • 2 years
    • 3 years
    • 5 years
    • 300
    • 500
    • 200
    • 100

Answer key — Year 7 Maths — Simple interest

  1. 1. 300
  2. 2. 120
  3. 3. 360
  4. 4. b) It doubles
  5. 5. 5
  6. 6. 5
  7. 7. b) The interest earned on every 100 of the principal in one year
  8. 8. 1 year → 100; 2 years → 200; 3 years → 300; 5 years → 500