Simple Interest Gcse Maths Steps Examples Worksheet Related lessons on simple and compound interest. simple interest is part of our series of lessons to support revision on simple interest and compound interest.you may find it helpful to start with the main simple interest and compound interest lesson for a summary of what to expect, or use the step by step guides below for further detail on individual topics. Simple interest practice questions – corbettmaths. welcome. videos and worksheets. primary. 5 a day.
Free Simple Interest Worksheet The difference between simple and compound interest is that simple interest is calculated using only the original amount whereas compound interest works out the interest on a previous amount as well. the formula for calculating the simple interest earned on an investment is. a=prt a = p rt. 14) $400 interest is earned on a principal of $2,000 at a simple interest rate of 5% interest per year. for how many years was the principal invested? 15) in how many years will $1,200 yield an interest of $180 at 3% simple interest? 16) jim invested $4,000 in a bond at a yearly rate of 4.5%. he earned $540 in interest. Exercises for solving simple interest simple interest . use simple interest to find the ending balance. \($1,300\) at \(5\%\) for \(6\) years. \($5,400\) at \(7.5. 1. £300 is deposited in a bank paying 0.5% simple interest per annum. how much interest will have been paid after 3 years? 2. £900 is deposited in a bank paying 4.5% simple interest per annum. how much interest will have been paid after 3 years? 3. £1200 is deposited in a bank paying 4.25% simple interest per annum.
Simple Interest Gcse Maths Steps Examples Worksheet Exercises for solving simple interest simple interest . use simple interest to find the ending balance. \($1,300\) at \(5\%\) for \(6\) years. \($5,400\) at \(7.5. 1. £300 is deposited in a bank paying 0.5% simple interest per annum. how much interest will have been paid after 3 years? 2. £900 is deposited in a bank paying 4.5% simple interest per annum. how much interest will have been paid after 3 years? 3. £1200 is deposited in a bank paying 4.25% simple interest per annum. The simple interest formula is given by. simple interest = principal × interest rate × time. i = prt where. the principal (p) is the amount of money deposited or borrowed. the interest rate (r) is a percent of the principal earned or paid. the time (t) is the length of time the money is deposited or borrowed. Using the same figures as the simple interest example above (£200 at 3% interest), in year one you would still earn £6. in year two you would continue to earn 3% on the new amount £206 so the interest earnt would be £6.18, taking the total amount to £212.18. calculating simple interest.
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