Simple Interest Word Problems

Ailis borrowed $3,000 at a simple interest rate of 4% per year.

How much did she have to repay after 4 years?

(Note: This is a two-step problem. She will have to pay back the amount she borrowed and the interest.)

DO NOT ENTER ANY COMMAS OR DECIMAL POINTS IN YOUR ANSWER!

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CCSS.7.RP.A.3

Noah invested $2500 at an annual rate of 5%. How long will it take until Noah earns $1125 in interest?

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CCSS.7.RP.A.3

Jack deposited $1,400 in his bank account. After 3 years, the account earned $294 in interest. Find the simple interest rate.

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CCSS.6.EE.B.6

Nathan paid $1020 in interest for a loan, which was given to him at a rate of 5% for 3 years. How much money did he borrow originally?

DO NOT ENTER ANY COMMAS OR DECIMAL POINTS IN YOUR ANSWER.

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CCSS.7.RP.A.3

Reagan went to the mall and saw a massage chair that she would have to take a loan out for $6500 to purchase. The bank said that she could get a simple interest rate of 8% for 5 years. What is the total amount that Reagan will pay for the chair?

(Note: This is a two-step problem. She has to pay for the chair and pay back the interest.)

DO NOT ENTER ANY COMMAS OR DECIMAL POINTS IN YOUR ANSWER.

You lend $240 to your friend. He pays you back $270 after 1 year. What interest rate did you charge your friend?

Tags

CCSS.7.RP.A.3