Printable “Percent Word Problems” worksheets:

Percent Word Problems (6th Grade)

Percent Word Problem (7th Grade)

Markup/Markdown Word Problems

Percent Error Problems

Simple Interest Word Problems

Percentage Word Problems

Examples, solutions, videos, and worksheets to help grade 7 students learn how to solve simple interest word problems.

### How to solve simple interest word problems?

Solving simple interest word problems involves using the simple interest formula and understanding the given information. The formula for calculating simple interest is:

𝐼 = 𝑃 × 𝑟 × 𝑡

Where:

𝐼 is the interest earned or paid.

𝑃 is the principal amount (the initial amount of money).

𝑟 is the annual interest rate (expressed as a decimal).

𝑡 is the time the money is invested or borrowed for, in years.

Steps to Solve Simple Interest Problems

- Identify the principal amount (P): This is the initial amount of money involved.

- Identify the interest rate (r): Ensure the interest rate is expressed as a decimal (e.g., 5% becomes 0.05).

- Identify the time period (t): This should be in years. If given in months, convert it to years by dividing by 12.

- Plug the values into the simple interest formula to find the interest.

- Calculate the total amount (A), if required, using the formula:

𝐴 = 𝑃 + 𝐼

Have a look at this video if you need to review how to solve simple interest word problems.

Click on the following worksheet to get a printable pdf document.

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### More Simple Interest Word Problem Worksheets

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(Answers on the second page.)

Simple Interest Word Problem Worksheet #1

Simple Interest Word Problem Worksheet #2

Simple Interest Word Problem Worksheet #3

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