Let’s solve each problem one by one using the simple interest formula:
Simple Interest = Principal × Rate × Time
But remember:
- Rate must be in decimal form (divide percent by 100).
- Time must be in years. If given in months, divide by 12 to convert to years.
---
#1: $500 at 3% for 2 years
→ 500 × 0.03 × 2 =
$30
#2: $300 at 5% for 4 years
→ 300 × 0.05 × 4 =
$60
#3: $1,000 at 2.5% for 3 years
→ 1000 × 0.025 × 3 =
$75
#4: $700 at 6% for 2 years
→ 700 × 0.06 × 2 =
$84
#5: $50 at 15% for 1 year
→ 50 × 0.15 × 1 =
$7.50
#6: $450 at 1.25% for 8 years
→ 450 × 0.0125 × 8 = 450 × 0.1 =
$45
#7: $1,500 at 2% for 6 months → 6/12 = 0.5 years
→ 1500 × 0.02 × 0.5 = 1500 × 0.01 =
$15
#8: $150 at 8% for 9 months → 9/12 = 0.75 years
→ 150 × 0.08 × 0.75 = 150 × 0.06 =
$9
---
Now let’s match these answers to the choices at the bottom:
Available choices:
$45, $75, $60, $9, $7.50, $30, $750, $15, $84, $180
Our calculated answers:
#1: $30
✔
#2: $60
✔
#3: $75
✔
#4: $84
✔
#5: $7.50
✔
#6: $45
✔
#7: $15
✔
#8: $9
✔
All of our answers are in the list — and we didn’t use $750 or $180, which matches the note “Not all answers will be used.”
Final Answer:
#1: $30
#2: $60
#3: $75
#4: $84
#5: $7.50
#6: $45
#7: $15
#8: $9
Parent Tip: Review the logic above to help your child master the concept of simple interest worksheet.
