Simple Interest 9APPS
 1. Mary invests \$2,500 at an annual interest rate of 4%. Calculate the simple interest after 3 years.2. James borrows \$1,200 at a simple interest rate of 6% per annum. How much interest will he pay after 2.5 years?3. If you deposit \$800 in a savings account with an annual interest rate of 3.5%, how much interest will you earn after 4 years?4. Tom takes a loan of \$5,000 at a simple interest rate of 8% for 2 years. Calculate the total amount he needs to repay.5. Alex borrowed a sum of money at an annual interest rate of 8%. After 2 years, he repaid \$3,600 in total. Calculate the original loan amount.6. A savings account with a principal of \$10,000 earned \$1,200 in simple interest after a certain period. If the annual interest rate was 4%, calculate the time the money was invested.7. Alex takes a loan of \$7,500 at an annual interest rate of 6%. Calculate the interest he earns each year.8. Emily borrows \$5,000 at an interest rate of 5% for 3 years. How much is her total repayment?9. Sarah took a loan of \$5,000 and repaid a total of \$6,200 after 2 years. If the loan was at a simple interest rate, calculate the annual interest rate.10. Emma borrows \$9,000 at a simple interest rate of 7% per annum. If she keeps the loan for 10 months, how much interest will she pay?11. Michael invests \$8,000 in a fixed deposit with an annual interest rate of 4.5%. After 5 months, withdraws the money. How much interest had the investment earned?12. Nicole deposits \$2,000 in a savings account with an annual interest rate of 3.8%. After 9 months, she decides to close the account. Calculate the total amount she receives.13. Lisa invested a certain amount of money at an annual interest rate of 6%, and after 3 years, she received \$720 as simple interest. Calculate the initial amount she invested.14. Choose the word to complete the sentence: When investing money you can compare banks to find the ...... interest rate so you get the most interest.A) LowestB) Highest15. Choose the correct formula to calculate Simple InterestA) R = PTIB) T = PRIC) P = IRTD) I = PRT16. Abdul invest \$5000 for 3 years at 6.75% pa. His total interest in 3 years is \$1012.50. What is the value of his investment at the end of the term?17. Khaled invested \$2000 for 3 years at 10% pa simple interest. Calculate the total interest earned.18. Kylie invested \$1000 for 4 years at 5% pa. Find the value of the investment at the end of the term.19. Amy borrows \$4,500 at a simple interest rate of 8% per annum. After 1.5 years, she decides to repay the loan. Calculate the total amount she repays.20. A sum of \$10,000 is invested at a simple interest rate of 6%. If the interest earned is \$900, calculate the time the money was invested.
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