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Simple Interest Worksheet
Help your students prepare for their Maths GCSE with this free simple interest worksheet of 44 questions and answers
- Section 1 of the simple interest worksheet contains 36 skills-based simple interest questions, in 3 groups to support differentiation
- Section 2 contains 4 applied simple interest questions with a mix of word problems and deeper problem solving questions
- Section 3 contains 4 foundation and higher level GCSE exam style simple interest questions
- Answers and a mark scheme for all simple interest questions are provided
- Questions follow variation theory with plenty of opportunities for students to work independently at their own level
- All questions and math worksheets created by fully qualified expert secondary maths teachers
- Suitable for GCSE maths revision for AQA, OCR and Edexcel exam boards
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Raise maths attainment across your school with hundreds of flexible and easy to use GCSE maths worksheets and lessons designed by teachers for teachers.
Simple interest at a glance
Simple interest is a method of calculating interest based on what is in the account at the beginning of the period. Simple interest could be used to calculate the amount of interest payable into a bank account or on a loan.
Calculating simple interest is done using the annual interest rate. The percentage of the original value is calculated and that amount of money is added to the account each year. For example, if £100 is invested into a savings account with a simple interest rate of 4% per annum, then £4 is added to the account each year. The total amount of interest will be equal to £4 multiplied by the number of years that the money is invested for.
There is a simple interest formula which can be used to calculate the amount of simple interest to be paid: Simple interest = P x R x T where P is the principal (original) investment, R is the interest rate (as a decimal) and T is time.
Looking forward, students can then progress to additional number worksheets, for example a fractions worksheet or a rounding worksheet.
For more teaching and learning support on Number our GCSE maths lessons provide step by step support for all GCSE maths concepts.
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