Simple % Number Problems Worksheet

5 problems

Simple Interest is a method to determine or calculate the total Interest charged on a particular sum at a given time and interest rate. However, the principal amount is always the same. Simple Interest is one of the kinds of Interest applied by banks, and compound interest is also one of them. Here, the method of Interest always applies to the original principal amount, and the rate of Interest is the same for every cycle.
 

There are a few terms to keep in mind while solving a simple interest problem.

Grade 7
Percents
6.RP.A.3.C

Teaching Simple Interest Number Problem Easily

 

  •  Principal: It is the amount that is initially borrowed or invested from the banks.


 

  •  Rate: The rate of Interest at which the principal amount is offered for a given time.


 

  • Time is the duration for which the principal amount is offered to a person.


 

  •  Amount: The total sum of money a person has to return to the bank, including all Interest, is the amount.



 

Here is an example of solving a question on a simple interest number problem. Let's take the example mentioned below to understand more about simple Interests.


 

Q. Find the simple Interest, if:

Principal Amount = 1000 INR.


 

Rate of Interest = 5 percent.


 

Time = 1 year.


 

Step 1: Mention all the information.


 

Step 2: Use the Simple Interest Formula

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