Enter your Sign-on user name and password.

Forgot password?
  • Follow us on:
Loading video...
Please login to ask a question and view discussion.

Start Learning Now

Our free lessons will get you started (Flash® 10 required).
Get immediate access to our entire library.

Sign up for Educator.com

Features Overview

  • Get on-demand access to our complete library
  • Search and jump to exactly what you need to learn
  • Track your progress
  • Download practice and lesson files
  • *Ask questions and get answers from our community & instructors

Simple Interest

Related Links

  • Principal: The money you deposit in a savings account
  • Interest: The money the bank pays you based on the interest rate
  • Simple interest: The interest paid only on the principal
  • Simple Interest Formula: I = prt
    • I = interest ($)
    • p = principal (4)
    • r = interest rate per year
    • t = time in years

Find the simple interest.
P = $300
Interest rate = 15%
Time = 10 years

  • I = Prt
    I = interest
    P = principal
    r = interest rate per year
    t = time in years
  • 15% = .15
  • I = (300)(.15)(10)

$450

Find the simple interest.
P = $150
Interest rate = 30%
Time = 5 years

  • I = Prt
  • I = interest
    P = principal
    r = interest rate per year
    t = time in years
  • 30% = .30
  • I = (150)(.30)(5)

$225

Find the simple interest earned over 15 years when the principal is $600 and the interest rate is 10 percent.

  • I = Prt
  • I = interest
    P = $600
    r = 10%
    t = 15
  • 10% = .10
  • I = (600)(.10)(15)

$900

Find the simple interest earned over 30 years when the principal is $400 and the interest rate is 5 percent.

  • I = Prt
  • I = interest
    P = $400
    r = 5%
    t = 30
  • 5% = .05
  • I = (400)(.05)(30)

$600

Samantha deposited $120 into a savings account with an interest rate of 10 percent. Find how much simple interest she earned over 9 years.

  • I = Prt
  • I = interest
    P = $120
    r = 10%
    t = 9
  • 10% = .10
  • I = (120)(.10)(9)

$108

John deposited $250 into a savings account with an interest rate of 20 percent. Find how much simple interest she earned over 15 years.

  • I = Prt
  • I = interest
    P = $ 250
    r = 20%
    t = 15
  • 20% = .20
  • I = (250)(.20)(15)

$750

David deposited $600 into a savings account with an interest rate of 2 percent. Find how much simple interest she earned over 6 years.

  • I = Prt
  • I = interest
    P = $ 600
    r = 2%
    t = 6
  • 2% = .02
  • I = (600)(.02)(6)

$72

If the simple interest earned in 10 years is $250 and the interest rate is 5%, how much is the principal?

  • I = Prt
  • I = $ 250
    P = principal
    r = 5%
    t = 10
  • 5% = .05
  • 250 = (P)(.05)(10)
  • 250 = 0.5P
  • P = [250/0.5]

$500

If the simple interest earned in 10 years is $500 and the interest rate is 2%, how much is the principal?

  • I = Prt
  • I = $ 500
    P = principal
    r = 2%
    t = 10
  • 2% = .02
  • 500 = (P)(.02)(10)
  • 500 = 0.2P
  • P = [500/0.2]

$ 2500

If the simple interest earned in 1 years is $120 and the interest rate is 2%, how much is the principal?

  • I = Prt
  • I = $120
    P = principal
    r = 2%
    t = 1
  • 2% = .02
  • 120 = (P)(.02)(1)
  • 120 = 0.02P
  • P = [120/0.02]

$ 6000

*These practice questions are only helpful when you work on them offline on a piece of paper and then use the solution steps function to check your answer.

Answer

Simple Interest

Lecture Slides are screen-captured images of important points in the lecture. Students can download and print out these lecture slide images to do practice problems as well as take notes while watching the lecture.

Mathematics: Basic Math

Related Books

Related Books