Answers to the simple interest word problems are on the second page of the worksheet.
1. If you borrow $600 for seven years at an interest rate of 7%, how much interest will you pay?
2. The cost of a loan for $900 over one year is $72.00. What was the rate on the loan?
3. If you borrow $500 at 6% for three years, how much will you pay back by the end of the term?
4. If you borrow $800 for six years at an interest rate of 6%, how much interest will you pay?
5. The cost of a loan for $600 over one year is $60.00. What was the rate on the loan?
6. If you borrow $300 for four years at an interest rate of 10%, how much interest will you pay?
7. The ending balance on an investment is $1,036.00. If the principal was invested at 8% for six years, what was the principal?
8. If you received $252.00 on $400 invested at a rate of 9%, for how long did you invest the principal?
9. If you borrow $900 at 3% for seven years, how much will you pay back by the end of the term?
10. How much interest does a $300 investment earn at 4% over three years? |