Success TutoringWorksheets

Year 10 Simple and Compound Interest Worksheet — Level 1 — Answers

Answer sheet with worked solutions for the Year 10 financial mathematics worksheet.

Download answers PDFPrint answersBack to worksheet
Success TutoringWorksheetsAnswer sheetYear 10 · Mathematics · Financial Mathematics

Year 10 Simple and Compound Interest Worksheet — Level 1 — Answers

Show your working. Write the rate as a decimal (5% = 0.05). Round money to the nearest cent.

1.Find the simple interest on $3,250.00 invested at 4.5% per year for 4 years. What is the total value at the end?

Answer: Interest $585.00; total $3,835.00

  1. I = P × r × n = $3,250.00 × 0.045 × 4
  2. = $585.00
  3. Total = $3,250.00 + $585.00 = $3,835.00
2.Find the simple interest on $7,000.00 invested at 6% per year for 4 years. What is the total value at the end?

Answer: Interest $1,680.00; total $8,680.00

  1. I = P × r × n = $7,000.00 × 0.06 × 4
  2. = $1,680.00
  3. Total = $7,000.00 + $1,680.00 = $8,680.00
3.Find the simple interest on $3,500.00 invested at 8% per year for 3 years. What is the total value at the end?

Answer: Interest $840.00; total $4,340.00

  1. I = P × r × n = $3,500.00 × 0.08 × 3
  2. = $840.00
  3. Total = $3,500.00 + $840.00 = $4,340.00
4.Find the simple interest on $10,000.00 invested at 4% per year for 2 years. What is the total value at the end?

Answer: Interest $800.00; total $10,800.00

  1. I = P × r × n = $10,000.00 × 0.04 × 2
  2. = $800.00
  3. Total = $10,000.00 + $800.00 = $10,800.00
5.Find the simple interest on $14,500.00 invested at 8% per year for 4 years. What is the total value at the end?

Answer: Interest $4,640.00; total $19,140.00

  1. I = P × r × n = $14,500.00 × 0.08 × 4
  2. = $4,640.00
  3. Total = $14,500.00 + $4,640.00 = $19,140.00
6.Find the simple interest on $13,000.00 invested at 3% per year for 4 years. What is the total value at the end?

Answer: Interest $1,560.00; total $14,560.00

  1. I = P × r × n = $13,000.00 × 0.03 × 4
  2. = $1,560.00
  3. Total = $13,000.00 + $1,560.00 = $14,560.00
7.Find the simple interest on $14,750.00 invested at 6% per year for 6 years. What is the total value at the end?

Answer: Interest $5,310.00; total $20,060.00

  1. I = P × r × n = $14,750.00 × 0.06 × 6
  2. = $5,310.00
  3. Total = $14,750.00 + $5,310.00 = $20,060.00
8.Find the simple interest on $1,000.00 invested at 2% per year for 2 years. What is the total value at the end?

Answer: Interest $40.00; total $1,040.00

  1. I = P × r × n = $1,000.00 × 0.02 × 2
  2. = $40.00
  3. Total = $1,000.00 + $40.00 = $1,040.00
Free worksheets at worksheets.successtutoring.com · © Success Tutoring · Free for personal and classroom use

Marking tips

  • Give credit for correct method even when the final answer slips — the working shows where the thinking went right.
  • For open-ended tasks, use the success criteria as a checklist rather than looking for one "right" answer.
  • Celebrate what went well first, then pick one thing to work on next.

Great work. Here's what to try next: