Simple Interest Word Problems worksheet with six practice questions for students to solve using the formula I = prt.

I'll solve each of these simple interest problems step by step.

The formula given is: I = prt
- I = interest earned
- p = principal (starting amount)
- r = rate (as a decimal)
- t = time in years

Let me work through each problem:

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Problem 1: Patty has $90 in a savings account that earns 8% simple interest each year. How much interest will Patty earn in 3 years?

Step 1: Identify the values
- p = $90
- r = 8% = 0.08
- t = 3 years

Step 2: Use the formula I = prt
I = 90 × 0.08 × 3
I = 7.2 × 3
I = 21.6

Answer: $21.60

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Problem 2: Ed opened a savings account 5 years ago with $600. The account earns 3% simple interest per year, and he did not add or withdraw from the account. How much interest will Ed earn?

Step 1: Identify the values
- p = $600
- r = 3% = 0.03
- t = 5 years

Step 2: Use the formula I = prt
I = 600 × 0.03 × 5
I = 18 × 5
I = 90

Answer: $90

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Problem 3: Max has a savings account that earns 5% simple interest each year. The account has $5,000. If Max does not add or take out any money, how much interest will he earn in 3 years?

Step 1: Identify the values
- p = $5,000
- r = 5% = 0.05
- t = 3 years

Step 2: Use the formula I = prt
I = 5,000 × 0.05 × 3
I = 250 × 3
I = 750

Answer: $750

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Problem 4: Gus put $2,650 into a savings account 6 years ago. The account earns 8% simple interest per year, and Gus has not added or taken out any money. How much is in the account now?

Step 1: First find the interest earned
- p = $2,650
- r = 8% = 0.08
- t = 6 years

I = 2,650 × 0.08 × 6
I = 212 × 6
I = 1,272

Step 2: Add interest to the original amount to get the total
Total = Principal + Interest
Total = 2,650 + 1,272
Total = 3,922

Answer: $3,922

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Problem 5: Francesca has $15,000 in a savings account that earns 7.5% simple interest each year. How much interest will she earn in 5 years if she does not add or withdraw from the account?

Step 1: Identify the values
- p = $15,000
- r = 7.5% = 0.075
- t = 5 years

Step 2: Use the formula I = prt
I = 15,000 × 0.075 × 5
I = 1,125 × 5
I = 5,625

Answer: $5,625

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Problem 6: Ruth has a savings account that earns 9.2% simple interest each year. The account has $19,000. If Ruth does not add or take out any money, how much will be in the account in 7 years?

Step 1: First find the interest earned
- p = $19,000
- r = 9.2% = 0.092
- t = 7 years

I = 19,000 × 0.092 × 7
I = 1,748 × 7
I = 12,236

Step 2: Add interest to the original amount to get the total
Total = Principal + Interest
Total = 19,000 + 12,236
Total = 31,236

Answer: $31,236

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Final Answer:
1. $21.60
2. $90
3. $750
4. $3,922
5. $5,625
6. $31,236