How to find simple interest

Practice Questions

Algebra 1 › How to find simple interest

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1

If you deposit into a savings account that yields 5% annual interest, how much interest will you earn in years?

2

Oscar spent on his credit card for a Valentine's Day on the town with his better half. If the monthly billing statement totalled , what is the monthly interest on Oscar's card?

3

Sal invests $2000 in a fund and after a year, earns $140 of interest. What is the interest rate for the fund Sal invested in?

4

If a woman invests $2000 into a fund that has 5% annual interest, how much many can she expect to make from her investment, after 2 years?

5

Exactly one year ago, John placed $8,000 into an investment account. Over the past year, the investments in his account have increased in value by 12%. How much money does he have now?

6

Cody has fallen behind on his student loan payments and has not made a payment in a year. The original balance of has accrued interest and increased to . If Cody does not make any payments this year, what will be the year-end balance of the loan?

7

You invest $550 in a savings account that accrues interest at a rate of 6% annually. How much interest will you earn after 3 years?

8

Oscar takes out a loan from the bank for . If the end of the month billing statement has a total balance of , what is the monthly interest rate for the loan?

9

Find the simple interest earned if you deposit $2000 into a bank at an annual rate of 5% for 3 years.

10

Carly invested in a savings account, which, within a years' time increased by roughly . If at the end of the year, Carly withdrew of the total balance in the savings account, what is the remaining balance?

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