Simple Interest worksheet

10 GCSE practice questions with answers, free to print. Every sheet is generated, so you can make a fresh one whenever you need it.

1. 3 marks

   Erin invests £4900 in a savings account.

   The account pays simple interest at 2% per year.

   Work out the total interest she earns after 6 years.

2. 3 marks

   Tomas puts £5400 into a savings account.

   The account pays 3% simple interest per year.

   (a)

   Find the interest paid in one year.

   (b)

   Tomas takes nothing out of the account for 6 years.

   Calculate how much is in the account at the end of the 6 years.

3. 3 marks

   Grace invests £3400 for 6 years in an account that pays simple interest.

   At the end of the 6 years she has earned £612 in interest.

   Calculate the annual rate of simple interest.

4. 3 marks

   Isla invests £4800 in an account paying 4% simple interest per year.

   She leaves the money in the account until it has earned £576 in interest.

   Work out how many years the money is left in the account.

5. 5 marks

   Ben has \(£6000\) to invest.

   Redwood Bank pays \(3\%\) simple interest per year. He would leave the money there for \(6\) years.

   Halton Bank pays \(4\%\) simple interest per year. He would leave the money there for \(2\) years.

   (a)

   Calculate the interest he would earn at Redwood Bank.

   (b)

   Calculate the interest he would earn at Halton Bank.

   (c)

   Write down which bank pays the more interest, and how much more.

6. 3 marks

   Yusuf invests £4100 in a savings account.

   The account pays simple interest at 2% per year.

   Calculate the total interest he earns after 7 years.

7. 3 marks

   Amara puts £5200 into a savings account.

   The account pays 4.5% simple interest per year.

   (a)

   Work out the interest paid in one year.

   (b)

   Amara takes nothing out of the account for 5 years.

   Calculate how much is in the account at the end of the 5 years.

8. 3 marks

   Yusuf invests £3400 for 5 years in an account that pays simple interest.

   At the end of the 5 years he has earned £680 in interest.

   Work out the annual rate of simple interest.

9. 3 marks

   Zainab invests £6300 in an account paying 3% simple interest per year.

   She leaves the money in the account until it has earned £1323 in interest.

   Work out how many years the money is left in the account.

10. 5 marks

    Owen has \(£1000\) to invest.

    Fenwick Savings pays \(3\%\) simple interest per year. He would leave the money there for \(2\) years.

    Larkhill Savings pays \(2\%\) simple interest per year. He would leave the money there for \(4\) years.

    (a)

    Work out the interest he would earn at Fenwick Savings.

    (b)

    Work out the interest he would earn at Larkhill Savings.

    (c)

    State which bank pays the more interest, and how much more.

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