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Year 9 Simple and Compound Interest Worksheet — Level 1 — Answers

Answer sheet with worked solutions for the Year 9 financial mathematics worksheet.

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Success TutoringWorksheetsAnswer sheetYear 9 · Mathematics · Financial Mathematics

Year 9 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 $6,500.00 invested at 4.5% per year for 4 years. What is the total value at the end?

Answer: Interest $1,170.00; total $7,670.00

  1. I = P × r × n = $6,500.00 × 0.045 × 4
  2. = $1,170.00
  3. Total = $6,500.00 + $1,170.00 = $7,670.00
2.Find the simple interest on $4,250.00 invested at 2% per year for 5 years. What is the total value at the end?

Answer: Interest $425.00; total $4,675.00

  1. I = P × r × n = $4,250.00 × 0.02 × 5
  2. = $425.00
  3. Total = $4,250.00 + $425.00 = $4,675.00
3.Find the simple interest on $1,000.00 invested at 4% per year for 3 years. What is the total value at the end?

Answer: Interest $120.00; total $1,120.00

  1. I = P × r × n = $1,000.00 × 0.04 × 3
  2. = $120.00
  3. Total = $1,000.00 + $120.00 = $1,120.00
4.Find the simple interest on $12,000.00 invested at 4% per year for 2 years. What is the total value at the end?

Answer: Interest $960.00; total $12,960.00

  1. I = P × r × n = $12,000.00 × 0.04 × 2
  2. = $960.00
  3. Total = $12,000.00 + $960.00 = $12,960.00
5.Find the simple interest on $1,750.00 invested at 4% per year for 4 years. What is the total value at the end?

Answer: Interest $280.00; total $2,030.00

  1. I = P × r × n = $1,750.00 × 0.04 × 4
  2. = $280.00
  3. Total = $1,750.00 + $280.00 = $2,030.00
6.Find the simple interest on $8,250.00 invested at 6% per year for 2 years. What is the total value at the end?

Answer: Interest $990.00; total $9,240.00

  1. I = P × r × n = $8,250.00 × 0.06 × 2
  2. = $990.00
  3. Total = $8,250.00 + $990.00 = $9,240.00
7.Find the simple interest on $11,500.00 invested at 4.5% per year for 4 years. What is the total value at the end?

Answer: Interest $2,070.00; total $13,570.00

  1. I = P × r × n = $11,500.00 × 0.045 × 4
  2. = $2,070.00
  3. Total = $11,500.00 + $2,070.00 = $13,570.00
8.Find the simple interest on $4,000.00 invested at 8% per year for 4 years. What is the total value at the end?

Answer: Interest $1,280.00; total $5,280.00

  1. I = P × r × n = $4,000.00 × 0.08 × 4
  2. = $1,280.00
  3. Total = $4,000.00 + $1,280.00 = $5,280.00
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