20 Simple Interest Problems

Before diving into these simple interest problems, check out a simple interest calculator to assist with the calculations. These exercises are designed to enhance your understanding of how simple interest works in various financial scenarios. For a deeper grasp, consider reading up on the differences between simple and compound interest. Understanding these two concepts will provide you with a broader perspective on how interest affects your investments and loans over time. Now let's dive in.

Problems:

How much interest does $500 earn at 4% over 2 years?
What's the interest on a $1,000 loan at 5% for 3 years?
Total amount after $600 at 3% for 5 years?
Interest for a $2,500 loan at 6% for 1.5 years?
Calculate interest on $3,000 at 7% for 4 years.
Total amount for $700 at 5% for 3 years?
Interest earned from $800 at 4% for 2.5 years?
Interest on a $900 loan at 3% for 4 years?
Total repayment for $1,200 at 5% for 6 years?
Interest on $2,000 at 2.5% for 3 years?
How much interest does $450 earn at 3.5% over 7 years?
Total interest from a $1,500 loan at 4.5% for 5 years?
Final amount on $1,800 at 5% over 8 years?
Interest for $1,100 at 6% for 3.5 years?
Total due on a $2,200 loan at 7% for 2 years?
Interest earned by $750 at 3.5% for 5 years?
What's the interest on a $2,800 loan at 2% for 4 years?
Total repayment for $600 at 4% for 3 years?
How much interest does $1,000 earn at 5% over 10 years?
Interest on a $1,250 loan at 4.5% for 6.5 years?

Detailed Answer Key:

$40; The $500 investment grows by $40 in interest over 2 years.
$150; The loan accrues $150 in interest over 3 years.
$690; The deposit grows to $690 after 5 years, including interest.
$225; The loan incurs $225 in interest over 1.5 years.
$840; The investment earns $840 in interest over 4 years.
$805; The total amount after 3 years is $805, including interest.
$80; The deposit earns $80 in interest over 2.5 years.
$108; The loan accrues $108 in interest over 4 years.
$1,500; Total repayment is $1,500 after 6 years, including interest.
$150; The deposit earns $150 in interest over 3 years.
$110.25; The investment grows by $110.25 in interest over 7 years.
$337.50; The loan generates $337.50 in interest over 5 years.
$2,340; The deposit totals $2,340 after 8 years, including interest.
$231; The loan accrues $231 in interest over 3.5 years.
$2,644; The total amount due after 2 years is $2,644, including interest.
$131.25; The deposit earns $131.25 in interest over 5 years.
$224; The loan incurs $224 in interest over 4 years.
$672; Total repayment is $672 after 3 years, including interest.
$500; The investment earns $500 in interest over 10 years.
$371.25; The loan accrues $371.25 in interest over 6.5 years.

Feel free to use our simple interest calculator to calculate of validate answers. For more math, finance, stats, date & time materials and tools check out z-table.com.