Calculating simple interest

Practice Questions

GMAT Quantitative Reasoning › Calculating simple interest

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1

How much interest would an investment yield if the principal of is invested for years at a simple interest?

2

How much interest will be accumulated in a simple interest investment if is invested for years at interest rate?

3

Grandpa Jack wants to help pay for college for his grandson, Little Jack. Little Jack is currently 8 years old. Grandpa Jack makes a one-time deposit into an account that earns simple interest every year. Grandpa Jack invests $10,000 now and in ten years, that will grow to $15,000. What rate of simple interest did Grandpa Jack receive?

4

Jessica deposits $5,000 in a savings account that collects 6% simple interest. How much money will she have accumulated after 5 years?

5

How many years would it take Marissa to make in interest using a simple interest investment of in principal at 5% return?

6

Jesse has to invest for years for return. How much simple interest will his investment yield?

7

What return does Florence have to yield in order to make in interest off of a simple investment of for years?

8

A local credit union offers short-term loans at an annual interest rate of . If Jasmine takes out a loan for months, how much will she pay in interest?

9

If is invested at simple annual interest rate over months, what it is the amount of interest earned over that period?

10

We deposit today in an account paying simple interest every months. Assuming we make no other deposits, how much interests will we receive after years?

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