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Cogito

Grade 7 Math · Chapter 3 · Lesson 4

Practice Worksheet

Simple Interest

What money earns for sitting still.

10 problems · about 18 minutes · 7.RP.A.3

NameDate

Figure — use these to answer the problems

One year earns a fixed amount. Scale it up for more years.
A ratio table for 1 to 2
YearsInterest in pounds
12
24
36
YearsInterest in pounds00122436
Years1
Interest in pounds2
Number of years3
Figure 1

Warm-Up Review

From earlier lessons. Loosen up before the new work.

3 problems

  1. From “Discounts and Sale Prices”

    £70 with 20% off. Pay in pounds?

    Answer

  2. From “Tax, Tips, and Markup”

    £90 with 20% added. Total in pounds?

    Answer

  3. From “Percent Increase and Decrease”

    A 120 pound item falls 25%. New price?

    Answer

Warm Up

Straightforward practice. Get the method working first.

3 problems

  1. £600 at 5% for 2 years. Interest in pounds?

    Answer

  2. £1000 at 3% for 1 year. Interest in pounds?

    Answer

  3. £1000 at 3% for 4 years. Interest in pounds?

    Answer

Build It Up

The same ideas with more to keep track of.

2 problems

  1. £200 at 10% for 3 years. Total in pounds?

    Answer

  2. Does simple interest take the percent from the growing total? Answer 1 for yes, 0 for no.

    Answer

Stretch Yourself

Mixed problems. Work out what kind of question it is before you start.

2 problems

  1. The Savings

    £400 at 5% for 2 years. How much interest, in pounds?

    Answer

  2. The Total

    Same account. How much altogether, in pounds?

    Answer