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This printable supports Common Core Mathematics Standard 7.RP.3.

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# 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 $8 1/2%$ 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?        You need to be a HelpTeaching.com member to access free printables.