Simple Interest

Calculate Simple Interest

Quick Math Guide

£$₹ Simple Interest = (Principal Amount x Rate of interest per year x number of years)/100

Note: With Simple Interest the Amount earned will stay the same every year

Practice Worksheet

Find Simple Interest and Amount:

1. $6000 for 4 years at 8% interest per year

2. $9275 for 2 years at 7.5% per year

3. $100 for 3 years at 15% per year

4. $8250 for 4 years at 10.2% per year

5. $500 for 2 years at 8¼% per year

Answers:

1. SI = $1920, Amount = $7920

2. SI = $1391.25, Amount = $10666.25

3. SI = $45, Amount = $145

4. SI = $3366, Amount = $11616

5. SI = $82.5, Amount = $582.5