Percent Problems: Simple Interest (Grade 7)

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Percent Problems: Simple Interest

1. 
Find the balance on an account with $198 invested at 4% simple interest for 13 years.
  1. 102.96
  2. 112.90
  3. 300.96
  4. 312.95
2. 
Jose deposits $1,500 of his tax refund into an account that earns simple annual interest. How much interest will his account earn after 6 years at an annual interest rate of 4%?
  1. $360
  2. $365
  3. $36
  4. $380
3. 
Marsha deposited $7,500 into a savings account 2 years ago that earns simple interest. The interest rate is 3% per year. How much money did Marsha earn in interest?
  1. $750
  2. $900
  3. $675
  4. $450
4. 
Mrs. Avers deposited $3,000 in her credit union savings account. What amount of interest will she receive on her deposit if she leaves the money in the account for one year at [math]8 1/2%[/math] interest?
  1. $250
  2. $255
  3. $300
  4. $350
  5. $400
5. 
Find the simple interest earned on $3,500 at 7.5% per year for 5 years.
  1. $1,312.50
  2. $13,125.00
  3. $1,245.50
  4. $12,455.00
6. 
Find the interest AND the total amount owed if you borrowed $400 for 2 years at an interest rate of 8%.
  1. $64; $464
  2. $60, $460
  3. $640, $4600
  4. $6.40; $46.00
7. 
John wants to have an interest income of $3,000 a year. How much must he invest for one year at 8%?





8. 
The Burnham Parents-Teachers Association invests $5,200 at 6% simple yearly interest rate paid semi-annually. How much is in the account after 1/2 year?





9. 
How much simple interest would there be after one year on a deposit of $900.00 when the rate is 8% APR?





10. 
Tex invested some money in cattle ranching at a simple rate of 5.5%. He earned $1,760 in just four years. How much money did he have to invest?





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