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2.01 Simple interest formula

Interactive practice questions

If $\$16716$$16716 of simple interest was earned in $7$7 years, how much interest was earned each:

a

year?

b

month?

Easy
1min

Calculate the simple interest earned on an investment of $\$2540$$2540 at $9%$9% p.a. for $2$2 years.

Give your answer to the nearest cent.

Easy
1min

Calculate the simple interest on a loan of $\$8000$$8000 at $8%$8% p.a. for $6$6 years.

Give the answer to the nearest dollar.

Easy
< 1min

Ned borrowed $\$3600$$3600 from a bank at a simple interest rate of $2.5%$2.5% for one year.

Easy
1min
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Outcomes

ACMGM006

apply percentage increase or decrease in various contexts; for example, determining the impact of inflation on costs and wages over time, calculating percentage mark-ups and discounts, calculating GST, calculating profit or loss in absolute and percentage terms, and calculating simple and compound interest

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