Grade 7 · Math
Calculate simple interest practice
Calculate interest on an unchanged principal over whole years.
Opening your practice adventure…
Try a sample
An amount of $150 earns simple interest at 4% per year for 2 years. How many dollars of interest are earned?
- 12
- 11
- 13
- 14
See the answer & why
12
Simple interest = principal × rate × time: 150 × × 2 = 12 dollars.
A little hint: Simple interest is calculated on the original principal each year.
A teaching tip
Convert the percent to a fraction or decimal and multiply principal, rate and time.