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Grade 7 Math — 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 $1200 at 10% per year for 1 year. Give just the number.

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

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

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

  4. 4.$4000 is borrowed at 6% per year for 3 years. What is the total amount to be paid back? Give just the number.

  5. 5.Find the simple interest on $5000 at 8% per year for 2 years. Give just the number.

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

  7. 7.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
    • 500
    • 100
    • 300
    • 200

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

Answer key — Grade 7 Math — Simple interest

  1. 1. 120
  2. 2. a) The interest earned on every 100 of the principal in one year
  3. 3. 5
  4. 4. 4720
  5. 5. 800
  6. 6. 5
  7. 7. 1 year → 100; 2 years → 200; 3 years → 300; 5 years → 500
  8. 8. 360