Simple Interest is the percentage of money charged uniformly through out certain period of time on a sum borrowed and it is often abbreviated as SI. The interest only paid on the Principal remains unpaid. The key factors of simple interest calculation are the Principal, Interest Rate and the Time duration. The worksheet for simple interest calculation let you understand how to calculate simple interest and what are all the key factors are associated with it.
Simple Interest Formula:
Let us assume
Principal = P,
Interest Rate = R% per year and
Time = T years then the simple interest can be calculated from the below formula
At the rate of 8% per year simple interest, a sum of 5000 USD will earn how much interest by the end of 5 years
SI = (5000 x 8 x 5 / 100 )
= 2000USD 2000 will be earned at the end of 5 years
1. At the rate of 11% per year simple interest, a sum of 9000 USD will earn how much interest by the end of 9 years
2. A man borrowed 1500 USD at the rate of 9% per year SI. How much amount he has to pay in return to clear the debt after 7 years?
3. The simple interest on a sum of money at 7% is 150 USD for 3 years. The simple interest on the same sum for 2 years at 6% will be what?
When you try to solve such calculations on your own, this simple interest calculator can be used to verify the results of your calculations.