Simple interest word problems for grade 7 and grade 8. Answers on the second page.
1.If you invest $800 at an interest rate of 5%, how much money will you have after one year?
2. You invested $900 and received $1,548.00 after nine years. What was the interest rate?
3. At what rate was an investment made that obtains $320.00 on $500 over eight years?
4. You put $100 into an investment at 7% for nine years. What will the balance be at the end of nine
years?
5. If you invest $100 at an interest rate of 6%, how much money will you have after two years?
6. The cost of a loan for $300 over three years is $81.00. What was the rate on the loan?
7. If you borrow $100 for five years at an interest rate of 7%, how much interest will you pay?
8. If the balance at the end of three years on an investment of $500 that has been invested at a rate of
4% is $560.00, how much was the interest?
9. If you put money into a savings account that earns $432.00 over eight years at a rate of 6%, how much money did you put into the account?
10. How much interest is earned on $800 at 8% for two years? |