Simple
Interest
AN ENGAGING
CUT AND GLUE
WORKSHEET
With this worksheet, you
can make solving simple
interest problems fun!
Students may solve it in
the work box, and then
cut and glue the answer
in the correct box.
Students will know if
they made a mistake
right away when they
notice their answer is not
on the answer sheet!
Students of all ages love
to glue!
Name:
__________________________
Date : __________________________
SIMPLE INTEREST
Directions: Use the formula I=PRT to solve. Cut out the correct answer from the
answer sheet and glue it to the correct problem. Round to the nearest hundredth.
1.
Diana’s mother deposited $4,000 into a savings account as a college fund for
Diana. How much will be in the account after 6 years if the account earns a yearly
simple interest rate of 3.5%?
Work
Answer
dollars
2.
Nadia borrows $6,000 to pay for her college expenses. She plans to repay the
loan in 5 years at simple interest. If Nadia repays a total of $8,187.50, what is the
interest rate?
Work
Answer
%
3.
Jennifer deposits $8,500 in a college fund. If the fund earns an annual simple
interest rate of 6.5%, how long must the money be in the fund to earn $9,392.50 in
interest?
Work
Answer
years
4.
How long will Frances have to leave $5,000 in the bank to earn $250 in simple
interest at 2%.
Work
Answer
years
5.
Nick’s parents agree to loan him the money for a used car. They will loan him
$5,000 for 4 years at 5% simple interest. How much interest will Nick pay to his
parents?
Work
Answer
dollars
6.
Jacoby borrowed $1,800 for 15 months at 16% annual simple interest rate. What is
the total amount he will repay?
Work
Answer
dollars
7.
Jessica borrowed $1,500 from Angel. She agreed to repay her $2,100 after 4
years. What was the interest rate of this loan?
Work
Answer
%
8.
Adalit gave a security deposit of $1,200 to her landlord, Mr. Greene, 7 years ago.
Mr. Greene now intends to give her deposit back with simple interest of 2.75%.
How much will he return to her?
Work
Answer
dollars
9.
Emily borrowed $9,500 to buy a used car. The credit union charged 7% simple
interest per year. She paid $3,325 in interest. For what period of time did she
borrow money?
Work
Answer
years
10.
Find the total amount of simple interest that is paid over a period of five years on
$30,000 at a simple interest rate of 6.5%.
Work
Answer
dollars
11.
A bank is offering a 2.9% simple interest on a savings account. If you deposit
$4,000, how much interest will you earn in one year?
Work
Answer
dollars
12.
The Carranza's borrowed $3,000 for home improvements. They repaid the loan
and $600 in simple interest five years later. What simple annual interest rate did
they pay?
Work
Answer
%
Answer Sheet
7.29
1,431
9,750
1,000
10
5
2.5
4,840
116
4
17
2,160
KEY
1. 4,840
2. 7.29
3. 17
4. 2.5
5. 1,000
6. 2,160
7. 10
8. 1,431
9. 5
10. 9.750
11. 116
12. 4