Math Practice Problems - Simple Interest

Math Software Online: MathScore.com

MathScore EduFighter is one of the best math games on the Internet today. You can start playing for free!

Simple Interest - Sample Math Practice Problems

The math problems below can be generated by MathScore.com, a math practice program for schools and individual families. References to complexity and mode refer to the overall difficulty of the problems as they appear in the main program. In the main program, all problems are automatically graded and the difficulty adapts dynamically based on performance. Answers to these sample questions appear at the bottom of the page. This page does not grade your responses.

Want unlimited math worksheets? Learn more about our online math practice software.
See some of our other supported math practice problems.

Complexity=50

Answer the following questions involving simple interest. Input all answers to the nearest dollar

Complexity=100

Answer the following questions involving simple interest. Input all answers to the nearest dollar

Answers

Complexity=20

Answer the following questions involving simple interest. Input all answers to the nearest dollar

#	Problem	Correct Answer	Your Answer
1	Interest Rate: 7% each year Starting Balance: $194 Time Passed: 13 years How much interest has accrued if we are using simple interest? What is the new total balance?	Interest: Total balance:
Solution Simple Interest: I = PRT P = principle = starting balance = $194 R = interest rate = 7% T = time = 13 years I = interest = principle × interest rate × time = 194 × 7 / 100 × 13 = $177 New Balance = starting balance + interest accrued = $194 + $177 = $371

#	Problem	Correct Answer	Your Answer
2	Interest Rate: 9% each year Starting Balance: $150 Time Passed: 14 years How much interest has accrued if we are using simple interest? What is the new total balance?	Interest: Total balance:
Solution Simple Interest: I = PRT P = principle = starting balance = $150 R = interest rate = 9% T = time = 14 years I = interest = principle × interest rate × time = 150 × 9 / 100 × 14 = $189 New Balance = starting balance + interest accrued = $150 + $189 = $339

Complexity=50

Answer the following questions involving simple interest. Input all answers to the nearest dollar

#	Problem	Correct Answer	Your Answer
1	Interest Rate: 1% each year Starting Balance: $269 Time Passed: 3 years How much interest has accrued if we are using simple interest? What is the new total balance?	Interest: Total balance:
Solution Simple Interest: I = PRT P = principle = starting balance = $269 R = interest rate = 1% T = time = 3 years I = interest = principle × interest rate × time = 269 × 1 / 100 × 3 = $8 New Balance = starting balance + interest accrued = $269 + $8 = $277

#	Problem	Correct Answer	Your Answer
2	Interest Rate: 5% each year Starting Balance: $472 Time Passed: 10 years How much interest has accrued if we are using simple interest? What is the new total balance?	Interest: Total balance:
Solution Simple Interest: I = PRT P = principle = starting balance = $472 R = interest rate = 5% T = time = 10 years I = interest = principle × interest rate × time = 472 × 5 / 100 × 10 = $236 New Balance = starting balance + interest accrued = $472 + $236 = $708

Complexity=100

Answer the following questions involving simple interest. Input all answers to the nearest dollar

#	Problem	Correct Answer	Your Answer
1	Interest Rate: 2% each year Starting Balance: $135 Time Passed: 11 years How much interest has accrued if we are using simple interest? What is the new total balance?	Interest: Total balance:
Solution Simple Interest: I = PRT P = principle = starting balance = $135 R = interest rate = 2% T = time = 11 years I = interest = principle × interest rate × time = 135 × 2 / 100 × 11 = $30 New Balance = starting balance + interest accrued = $135 + $30 = $165

#	Problem	Correct Answer	Your Answer
2	Interest Rate: 5% each year Starting Balance: $198 Time Passed: 13 years How much interest has accrued if we are using simple interest? What is the new total balance?	Interest: Total balance:
Solution Simple Interest: I = PRT P = principle = starting balance = $198 R = interest rate = 5% T = time = 13 years I = interest = principle × interest rate × time = 198 × 5 / 100 × 13 = $129 New Balance = starting balance + interest accrued = $198 + $129 = $327

Learn more about our online math practice software.

"MathScore works."
- John Cradler, Educational Technology Expert

© Copyright 2010 Accurate Learning Systems Corp. All rights reserved.