Worksheets · Algebra 1

Simple interest worksheet for Algebra 1

In Algebra 1 simple interest is a linear function: I = Prt grows by the same amount every year, the straight-line contrast to compound interest, which grows exponentially. Solving for the rate or the time is a literal equation.

Also taught in Pre-Algebra, at its own level and with its own examples.

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Pick more than one for a sheet that mixes them.

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Free math worksheets at sigmaprep.io/worksheets© 2026 Sigma Prep

Sigma Prep · sigmaprep.io/worksheets

Name

Simple Interest

Date Period

Answer each question. Round money to the nearest cent.

  1. Find the simple interest earned

    A certificate of deposit pays simple interest of 3.5% a year on $2,250. How much interest is earned in 8 years?
  2. A savings account pays simple interest of 6% a year on $2,800. How much interest is earned in 5 years?
  3. A certificate of deposit pays simple interest of 5.5% a year on $800. How much interest is earned in 7 years?
  4. A bank pays simple interest of 4% a year on $550. How much interest is earned in 6 years?
  5. A bank pays simple interest of 6% a year on $2,200. How much interest is earned in 6 years?

  1. Find the total with simple interest

    A certificate of deposit of $1,600 pays 7% simple interest a year for 7 years. What is it worth at the end?
  2. You deposit $1,200 at 7.5% simple interest a year. How much is in the account after 6 years?
  3. Leo puts $500 in a savings account paying 5.5% simple interest a year. What is the balance after 5 years?
  4. A loan of $1,900 charges 6.5% simple interest a year and is paid back after 4 years. How much is paid back in all?
  5. Priya borrows $1,800 at 6% simple interest a year for 8 years. What does Priya owe at the end, interest included?

  1. Find interest or totals over months

    A student loan of $2,600 carries 5.5% simple interest a year. How much interest builds up over 33 months?
  2. A savings bond of $1,800 earns 6.5% simple interest a year and is cashed in after 3 months. What is it worth then?
  3. $2,100 sits in an account paying 3.5% simple interest a year for 16 months. How much interest does it earn?
  4. Maria lends a friend $2,500 for 10 months and charges 7.5% simple interest a year. How much does the friend pay back in all?
  5. A bank pays 4.5% simple interest a year. How much interest does a deposit of $2,000 earn in 27 months?

  1. Work backward from simple interest

    $250 earns $12.50 in simple interest over 2 years. What is the yearly interest rate?
  2. $1,950 at 4.5% simple interest earns $351. For how many years was it invested?
  3. $1,050 earns $42 in simple interest over 2 years. What is the yearly interest rate?
  4. $750 at 3% simple interest earns $135. For how many years was it invested?
  5. An account pays 2.5% simple interest and earns $80 in 4 years. How much was deposited?

Free math worksheets at sigmaprep.io/worksheets© 2026 Sigma Prep

Sigma Prep · sigmaprep.io/worksheets

Name

Simple InterestAnswer keyVersion 2

Date Period

Answer each question. Round money to the nearest cent.

  1. Find the simple interest earned

    A certificate of deposit pays simple interest of 3.5% a year on $2,250. How much interest is earned in 8 years?$630
  2. A savings account pays simple interest of 6% a year on $2,800. How much interest is earned in 5 years?$840
  3. A certificate of deposit pays simple interest of 5.5% a year on $800. How much interest is earned in 7 years?$308
  4. A bank pays simple interest of 4% a year on $550. How much interest is earned in 6 years?$132
  5. A bank pays simple interest of 6% a year on $2,200. How much interest is earned in 6 years?$792

  1. Find the total with simple interest

    A certificate of deposit of $1,600 pays 7% simple interest a year for 7 years. What is it worth at the end?$2,384
  2. You deposit $1,200 at 7.5% simple interest a year. How much is in the account after 6 years?$1,740
  3. Leo puts $500 in a savings account paying 5.5% simple interest a year. What is the balance after 5 years?$637.50
  4. A loan of $1,900 charges 6.5% simple interest a year and is paid back after 4 years. How much is paid back in all?$2,394
  5. Priya borrows $1,800 at 6% simple interest a year for 8 years. What does Priya owe at the end, interest included?$2,664

  1. Find interest or totals over months

    A student loan of $2,600 carries 5.5% simple interest a year. How much interest builds up over 33 months?$393.25
  2. A savings bond of $1,800 earns 6.5% simple interest a year and is cashed in after 3 months. What is it worth then?$1,829.25
  3. $2,100 sits in an account paying 3.5% simple interest a year for 16 months. How much interest does it earn?$98.00
  4. Maria lends a friend $2,500 for 10 months and charges 7.5% simple interest a year. How much does the friend pay back in all?$2,656.25
  5. A bank pays 4.5% simple interest a year. How much interest does a deposit of $2,000 earn in 27 months?$202.50

  1. Work backward from simple interest

    $250 earns $12.50 in simple interest over 2 years. What is the yearly interest rate?2.5%
  2. $1,950 at 4.5% simple interest earns $351. For how many years was it invested?4 years
  3. $1,050 earns $42 in simple interest over 2 years. What is the yearly interest rate?2%
  4. $750 at 3% simple interest earns $135. For how many years was it invested?6 years
  5. An account pays 2.5% simple interest and earns $80 in 4 years. How much was deposited?$800

Free math worksheets at sigmaprep.io/worksheets© 2026 Sigma Prep

How to do these

$2{,}000 earns $300 simple interest in 3 years. Find the rate

  1. I = Prt: 300 = 2000 · r · 3.
  2. 300 = 6000r, so r = 0.05.

The answer is 5%.

Where students go wrong

Putting the percent into the formula. Use 0.05 in I = Prt and write 5% only in the answer.

Also called simple interest, I = Prt, simple interest formula or simple and compound interest.

What you can put on this worksheet

The interest earned
A certificate of deposit pays simple interest of 6% a year on $1,200. How much interest is earned in 3 years? → $216
The total in the account
You deposit $1,200 at 6% simple interest a year. How much is in the account after 3 years? → $1,416
Time in months
A savings bond of $1,200 earns 6% simple interest a year and is cashed in after 8 months. What is it worth then? → $1,248.00
Find the rate, time or principal
$1,200 earns $216 in simple interest over 3 years. What is the yearly interest rate? → 6%
Compared with compounding once a year
$3,500 is invested for 2 years at 10%. How much more does it earn compounded once a year than with simple interest? → $35
A mixed number of years
You invest $4,700 at 6% simple interest a year for 214 years. How much interest do you earn? → $634.50
Compounded a set number of times a year
$1100 is invested at 5% compounded annually. Nothing is added or taken out for 8 years. Find the interest earned. → $525.20
A decimal interest rate
You invest $3,700 at 4.3% compounded quarterly. How much is in the account after 2 years? → $4,030.43

Questions about these worksheets

Yes. Every simple interest sheet is free to print and free to download as a PDF. There is no account to make, no email to hand over and no limit on how many you take.

Yes. The answer key prints on a second page, and you can choose whether it shows each question beside its answer or just the answers in a list.

Yes. Print straight from the page, or download the PDF and print that. The sheet is laid out for paper rather than squeezed off a screen, so there is room to work under each question, and the answer key comes out on its own page.

Algebra 1 is usually taken around 8th or 9th grade, though schools vary and plenty of students meet it earlier or later. Pick the difficulty rather than the grade: the easy level suits a first lesson on it, the hard level suits review before a test.

Yes, as many as you like. The questions are built fresh each time rather than picked from a fixed set of files, so pressing Generate gives a new sheet. That is what you want for a second class, a retake, or two students sitting next to each other.

That is the closest comparison, and Kuta Software is good software. It is also paid software you install on a computer. These worksheets run in a browser tab for free, with no account and nothing to install. Like Kuta, the simple interest questions are generated when you ask for them rather than pulled from a fixed set of files, so two classes never get the same sheet, and the answer key comes with it.

Yes. There are three levels, and you can tick more than one for a sheet that mixes them, in which case the questions come out easiest first. The harder levels are not just larger numbers: they ask for something the easy ones do not.

You pick from 8: the interest earned, the total in the account, time in months, find the rate, time or principal, compared with compounding once a year, a mixed number of years, compounded a set number of times a year and a decimal interest rate. Tick as many as you want and set how many of each, or let it spread them evenly.

Using the rate as a whole number. 3% is 0.03, not 3, so the interest is 2000 × 0.03 × 4, not 2000 × 3 × 4.