Calculating Simple Interest is an essential skill for anyone who maintains a bank account or wants to apply for a loan. Free Printable Simple Interest Worksheet PDF will improve your homeschool math skills as well as helps you to become better at calculations. Solutions provided for all the Questions in the Simple Interest Word Problems Worksheet will make it easy for you to learn the concept. Learn the Formulae, Tips & Tricks associated with the Simple Interest Concept easily by solving the problems on Simple Interest.
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Calculating Simple Interest Worksheet
I. Find the amount and S.I of the following
a) If p=7000, R=5%, T=3 years
b) If p= 9000, R=3%, T=5 years
Solution:
Given that,
p=7000, R=5%, T=3 years
We know that S.I=ptr/100
S.I=7000 × 3 × 5/100
S.I=105000/100
S.I=1050
Amount=P+S.I
Amount=7000 + 1050=8050
Therefore, S.I is Rs 1050 and the Amount is Rs 8050.
b)If p= 9000, R=3%, T=5 years
Given that,
p= 9000, R=3%, T=5 years
We know that S.I=ptr/100
S.I=9000 × 5 × 3/100
S.I= 1350
Amount=Principle+S.I
Amount=9000 + 1350
=10350
Therefore, S.I is Rs 1350, Amount is Rs 10350.
II. a)If Principle=6000, S.I=250. Find the amount?
b) If S.I=300, Amount=4800. Find the Principle?
c) If Principle=1700,Amount=2000. Find the S.I?
Solution:
a) Given that,
Principle=Rs 6000, S.I=Rs 250
We know that Amount=Principle + S.I
Amount= 6000 + 250
Amount=Rs 6250
Therefore, Amount=Rs 6250.
b) Given that,
S.I=Rs 300, Amount=Rs 4800
We know that Amount=Principle + S.I
Principle=Amount-S.I
principle= 4800 – 300
=Rs 4500
Therefore, Principle is Rs 4500.
c) Given that,
Principle=Rs1700,
Amount=Rs 2000
We know that Amount=principle + Interest
Interest=Amount- Principle
Interest=2000 – 1700
Interest=Rs 300
Therefore, Simple Interest is Rs 300.
III. Find Time when, Principal is Rs 5000, Interest is Rs 200, Rate is 2% p.a?
Solution:
Given p=5000,
I=Rs 160
R=3%
We know that S.I=ptr/100
T = SI×100 / P × R
T=200 × 100/5000 × 3
T=20000/5000 × 3
T=12
Therefore, Time=12 years.
Iv. Find Rate when Principal is Rs 7000, Interest is Rs 700 and Time is 4 years?
Solution:
Given that,
Principal=7000
Interest=700
Time=4 years
We know that S.I=ptr/100
r=SI×100 / P × t
r=700 ×100 /7000 ×4
r=70000/28000
r=2.5
Therefore, rate=2.5%.
V. Find the principal which gives an Amount of Rs 3500 at the rate of 8% for 5 years?
Solution:
Given that,
Amount=3500
rate=8%
T=5 years
We know that S.I=ptr/100
p=SI×100 / t × r
p= 3500 ×100 / 5 × 8
p=350000/40
p=Rs 8750
Therefore, the Principal is Rs 8750.
VI. Sarath deposited Rs 10000 for 2 years and 6 months at the rate of 5% p.a. Find the amount at maturity?
Solution:
Given that,
Sarath deposited p=Rs10000
T=2 years 6 months
r=5%
First, the compound interest for 2 years will be calculated and then the amount after 2 years will be considered as principal and on this principle, the simple interest for 6 months will be calculated.
Compound interest for 3 years
A = P (1 + R/100)ⁿ
A=10000(1 + 5/100)2
=10000(1+1/20)2
=10000(21/20)2
=Rs 1102.5
Now for the next 6 months, the principle will be Rs 1102.5.
Simple Interest = (P*R*T)/100
S.I=1102.5 × 5 × 6/100
S.I=Rs 330.75
Amount=Principle + interest
Amount=1102.5 + 330.75
Amount=Rs 1433.25
Hence, the maturity amount will be Rs 1433.25.
VII. Arun deposited Rs 15000 at a rate of 12% (p.a.) for 175 days. Find the amount he got back after 175 days.
Solution:
Given that,
P=Rs 15000,
r=12%,
T=175 days=5 months 15 days=5 1/2=11/2
Simple Interest = (P×R×T)/100
=15000 × 12 × 11/100 × 2 × 12
=825
Amount=Principle + Interest
=15000 + 825
=15825
Therefore, Amount is Rs 15825.
VIII. Kishore deposited Rs. 500 per month for 12 months in a banks’ recurring deposit account. If the bank pays interest at the rate of 9% per annum, find the amount (in Rs.) he gets on maturity?
Solution:
Given that,
p=500,
T=12 months
R=9%
Equivalent principal for 12 months = 100× n(n+1)/2
=500 × 12(13)/2
=39000
Interest=PRT/100
=39000 × 9 ×1/100 × 12
=292.5
Maturity amount=P × T+I
=500 × 12 + 292.5
=6000+292.5
=6292.5
Therefore, the maturity amount is Rs 6292.5.
VIII. Mahesh borrowed Rs 2000 at the rate of 5% (p.a.) for 5 years and 5 months. Find the amount he paid back?
Solution:
principle = Rs2000
time = 5.5 years
rate of interest = 5%
Simple Interest = P×T×R ÷ 100
= 2000×5.5×5 ÷ 100
= 550
Amount = Principle + Simple Interest
= 2000+550
= 2550
Therefore, Amount is Rs 2550.
IX. Find Principal when, Time is 2 years, Interest is Rs 400 and Rate is 3% p.a?
Solution:
Given that,
Time=2 years,
I=Rs 400
Rate=3%
Pricipal=(100 × Interest)/(Rate × Time)
=(100 × 400)/(3 × 2)
=40000/6
=6666.66
Therefore, Principle is Rs 6666.66.
X. In what time will Rs 500 amount to Rs 570 at the rate of 5% p.a. simple interest?
Solution:
Given that,
Principle = 500
Amount = 570
A = SI + P so,
SI = A – P
= 570-500
= 70
Now, T = SI * 100/P*R
= 70*100/500*5
= 7000/2500
= 2.8 years
Therefore, Time taken will be 2.8 years.