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Simple Interest Calculation Worksheet

This document is a simple interest worksheet that provides directions to calculate simple interest problems using the formula I = P * R * T. It contains sample problems calculating interest for different principal amounts, interest rates, and time periods expressed in months, weeks or days. The worksheet asks to show work and round answers to the nearest cent or tenth of a percent. It also contains two word problems at the end to calculate interest rates and total interest paid.

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Ronron Pogi
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561 views1 page

Simple Interest Calculation Worksheet

This document is a simple interest worksheet that provides directions to calculate simple interest problems using the formula I = P * R * T. It contains sample problems calculating interest for different principal amounts, interest rates, and time periods expressed in months, weeks or days. The worksheet asks to show work and round answers to the nearest cent or tenth of a percent. It also contains two word problems at the end to calculate interest rates and total interest paid.

Uploaded by

Ronron Pogi
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
  • Simple Interest Worksheet

Name_______________________________

Simple Interest Worksheet

Directions: Calculate the following simple interest problems. Write your answers in the space provided; show your
work. Use the formula I = P * R * T and round your answers to the nearest cent or the nearest tenth of a percent. Use four
decimal places for fractions of time.

1a. I = ______________ 1b. I = ______________ 1c. I = ______________ 1d. I = ______________


P = $500 P = $50 P = $1,000 P = $600
R = 8% R = 12% R = 18% R = 15%
T = 3 months (3/12) T = 1 month (1/12) T = 24 months (24/12) T = 60 days (60/360)

2a. I = $6 2b. I = $15 2c. I = $300 2d. I = $ .90


P = ____________ P = _____________ P = _____________ P = _____________
R = 12% R = 15% R = 12% R = 6%
T = 3 months (3/12) T = 90 days (90/360) T = 6 months (6/12) T = 60 days (60/360)

3a. I = $12 3b. I = $390 3c. I = $ . 50 3d. I = $3


P = $200 P = $2,000 P = $25 P = $50
R = ____________ R = _____________ R = _____________ R = ______________
T = 6 months (6/12) T = 18 months (18/12) T = 6 weeks (42/360) T = 180 days (180/360)

4a. You have agreed to borrow $50 and after six months 4b. If you borrow $800 at 18% for 11 months, how much
pay back $58. How much interest are you paying? total interest will you pay?
What is the interest rate?

Name_______________________________ Simple Interest Worksheet Directions: Calculate the following simple interest problems.

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