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Grade 8 · Math

Grade 8 Math: Financial literacy · Simple interest

Ontario curriculum: Mathematics (2020) · Financial Literacy F1.1 — compare simple and compound interest and methods of payment that change what is paid

1.

$100 is saved at 5% simple interest for 2 years. How much interest is earned?

2.

$100 is saved at 10% simple interest for 3 years. How much interest is earned?

3.

$200 is saved at 5% simple interest for 1 year. How much interest is earned?

4.

$500 is saved at 10% simple interest for 3 years. How much interest is earned?

5.

$100 is saved at 5% simple interest for 3 years. How much interest is earned?

6.

$500 is saved at 10% simple interest for 1 year. How much interest is earned?

7.

$200 is saved at 5% simple interest for 2 years. How much interest is earned?

8.

$400 is saved at 5% simple interest for 2 years. How much interest is earned?

9.

$400 is saved at 10% simple interest for 2 years. How much interest is earned?

10.

$200 is saved at 5% simple interest for 3 years. How much interest is earned?

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Answer key

Grade 8 Math: Financial literacy · Simple interest

Ontario curriculum: Mathematics (2020) · Financial Literacy F1.1 — compare simple and compound interest and methods of payment that change what is paid

Question numbers match the worksheet.

  1. 1.A) $10Interest = $100 × 5% × 2.
  2. 2.C) $30Interest = $100 × 10% × 3.
  3. 3.C) $10Interest = $200 × 5% × 1.
  4. 4.D) $150Interest = $500 × 10% × 3.
  5. 5.B) $15Interest = $100 × 5% × 3.
  6. 6.B) $50Interest = $500 × 10% × 1.
  7. 7.C) $20Interest = $200 × 5% × 2.
  8. 8.D) $40Interest = $400 × 5% × 2.
  9. 9.B) $80Interest = $400 × 10% × 2.
  10. 10.B) $30Interest = $200 × 5% × 3.

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