Practice calculating simple interest and total amounts with this structured math worksheet featuring real-world financial scenarios.

Let's solve the Simple Interest problems step by step.

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🔷 Formula for Simple Interest:

$$
I = P \times r \times t
$$

Where:
- $ I $ = Simple Interest
- $ P $ = Principal (initial amount)
- $ r $ = Annual interest rate (as a decimal)
- $ t $ = Time in years

$$
A = P + I
$$
Where $ A $ is the total amount after interest.

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## ✔ Part A: Find Simple Interest (I) and Amount (A)

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1)

- Principal ($P$) = \$13,700
- Time ($t$) = 2 years
- Rate ($r$) = 5% per annum = 0.05

$$
I = 13,700 \times 0.05 \times 2 = 13,700 \times 0.10 = 1,370
$$

$$
A = 13,700 + 1,370 = 15,070
$$

✔ I = \$1,370, A = \$15,070

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2)

- Principal ($P$) = \$9,800
- Time ($t$) = 6 years
- Rate ($r$) = 8% = 0.08

$$
I = 9,800 \times 0.08 \times 6 = 9,800 \times 0.48 = 4,704
$$

$$
A = 9,800 + 4,704 = 14,504
$$

✔ I = \$4,704, A = \$14,504

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3)

- Principal ($P$) = \$5,425
- Time ($t$) = 5 years
- Rate ($r$) = 13% = 0.13

$$
I = 5,425 \times 0.13 \times 5 = 5,425 \times 0.65 = 3,526.25
$$

$$
A = 5,425 + 3,526.25 = 8,951.25
$$

✔ I = \$3,526.25, A = \$8,951.25

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4)

- Principal ($P$) = \$400
- Time ($t$) = 10 years
- Rate ($r$) = 2% = 0.02

$$
I = 400 \times 0.02 \times 10 = 400 \times 0.20 = 80
$$

$$
A = 400 + 80 = 480
$$

✔ I = \$80, A = \$480

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## ✔ Part B: Total amount payable on \$700 at the end of 4 years

a) At 11% simple interest per year

- $ P = 700 $
- $ r = 11\% = 0.11 $
- $ t = 4 $

$$
I = 700 \times 0.11 \times 4 = 700 \times 0.44 = 308
$$

$$
A = 700 + 308 = 1,008
$$

✔ Total amount = \$1,008

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b) At 4% simple interest per year

- $ P = 700 $
- $ r = 4\% = 0.04 $
- $ t = 4 $

$$
I = 700 \times 0.04 \times 4 = 700 \times 0.16 = 112
$$

$$
A = 700 + 112 = 812
$$

✔ Total amount = \$812

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🟩 Final Answers:

#### A)
1) $ I = \$1,370 $, $ A = \$15,070 $
2) $ I = \$4,704 $, $ A = \$14,504 $
3) $ I = \$3,526.25 $, $ A = \$8,951.25 $
4) $ I = \$80 $, $ A = \$480 $

#### B)
a) \$1,008
b) \$812

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