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These sample problems below for Simple Interest were generated by the MathScore.com engine.

Sample Problems For Simple Interest

Complexity=20

Answer the following questions involving simple interest. Input all answers to the nearest dollar
 1 Interest Rate: 1% each year Starting Balance: \$147Time Passed: 6 years How much interest has accrued if we are using simple interest? What is the new total balance? Interest:   Total balance: 2 Interest Rate: 2% each year Starting Balance: \$124Time Passed: 9 years How much interest has accrued if we are using simple interest? What is the new total balance? Interest:   Total balance:

Complexity=50

Answer the following questions involving simple interest. Input all answers to the nearest dollar
 1 Interest Rate: 8% each year Starting Balance: \$289Time Passed: 6 years How much interest has accrued if we are using simple interest? What is the new total balance? Interest:   Total balance: 2 Interest Rate: 1% each year Starting Balance: \$175Time Passed: 13 years How much interest has accrued if we are using simple interest? What is the new total balance? Interest:   Total balance:

Complexity=100

Answer the following questions involving simple interest. Input all answers to the nearest dollar
 1 Interest Rate: 2% each year Starting Balance: \$839Time Passed: 15 years How much interest has accrued if we are using simple interest? What is the new total balance? Interest:   Total balance: 2 Interest Rate: 4% each year Starting Balance: \$184Time Passed: 3 years How much interest has accrued if we are using simple interest? What is the new total balance? Interest:   Total balance:

Complexity=20

Answer the following questions involving simple interest. Input all answers to the nearest dollar
1Interest Rate: 1% each year
Starting Balance: \$147
Time Passed: 6 years
How much interest has accrued if we are using simple interest?
What is the new total balance?

Interest:
Total balance:
Solution
Simple Interest: I = PRT
P = principle = starting balance = \$147
R = interest rate = 1%
T = time = 6 years
I = interest = principle × interest rate × time = 147 × 1 / 100 × 6 = \$9
New Balance = starting balance + interest accrued = \$147 + \$9 = \$156
2Interest Rate: 2% each year
Starting Balance: \$124
Time Passed: 9 years
How much interest has accrued if we are using simple interest?
What is the new total balance?

Interest:
Total balance:
Solution
Simple Interest: I = PRT
P = principle = starting balance = \$124
R = interest rate = 2%
T = time = 9 years
I = interest = principle × interest rate × time = 124 × 2 / 100 × 9 = \$22
New Balance = starting balance + interest accrued = \$124 + \$22 = \$146

Complexity=50

Answer the following questions involving simple interest. Input all answers to the nearest dollar
1Interest Rate: 8% each year
Starting Balance: \$289
Time Passed: 6 years
How much interest has accrued if we are using simple interest?
What is the new total balance?

Interest:
Total balance:
Solution
Simple Interest: I = PRT
P = principle = starting balance = \$289
R = interest rate = 8%
T = time = 6 years
I = interest = principle × interest rate × time = 289 × 8 / 100 × 6 = \$139
New Balance = starting balance + interest accrued = \$289 + \$139 = \$428
2Interest Rate: 1% each year
Starting Balance: \$175
Time Passed: 13 years
How much interest has accrued if we are using simple interest?
What is the new total balance?

Interest:
Total balance:
Solution
Simple Interest: I = PRT
P = principle = starting balance = \$175
R = interest rate = 1%
T = time = 13 years
I = interest = principle × interest rate × time = 175 × 1 / 100 × 13 = \$23
New Balance = starting balance + interest accrued = \$175 + \$23 = \$198

Complexity=100

Answer the following questions involving simple interest. Input all answers to the nearest dollar
1Interest Rate: 2% each year
Starting Balance: \$839
Time Passed: 15 years
How much interest has accrued if we are using simple interest?
What is the new total balance?

Interest:
Total balance:
Solution
Simple Interest: I = PRT
P = principle = starting balance = \$839
R = interest rate = 2%
T = time = 15 years
I = interest = principle × interest rate × time = 839 × 2 / 100 × 15 = \$252
New Balance = starting balance + interest accrued = \$839 + \$252 = \$1091
2Interest Rate: 4% each year
Starting Balance: \$184
Time Passed: 3 years
How much interest has accrued if we are using simple interest?
What is the new total balance?

Interest:
Total balance:
Solution
Simple Interest: I = PRT
P = principle = starting balance = \$184
R = interest rate = 4%
T = time = 3 years
I = interest = principle × interest rate × time = 184 × 4 / 100 × 3 = \$22
New Balance = starting balance + interest accrued = \$184 + \$22 = \$206

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