# Worksheet on Factors affecting Interest

We will practice the questions given in the worksheet on factors affecting interest. We know the formula for calculating simple interest (S.I.) is equal to $$\frac{P × R × T}{100}$$.

1. Find the simple interest and amount of:

(i) $500 for 3 years at 4% per annum (ii)$ 2550 for 8 months at 50 cents percent per month

(iii) $2750 for 4.4 years at 12.6 percent per month (iv)$ 7200 for 12$$\frac{1}{2}$$ years at 13$$\frac{1}{3}$$%

(v) $5000 for 1$$\frac{1}{4}$$ years at 7$$\frac{1}{2}$$% 2. Calculate the simple interest on$ 600 for 2$$\frac{1}{2}$$ years at 4% per annum.

3. Find the time when principal is $800 and simple interest is$ 96 at the rate of 6 % per annum.

4. Ron took $2400 from Rex and returned him$ 3000 after 5 years. Find the annum rate of interest in percent.

5. What will be the amount on $900 at 5 % per annum for 6 years? 6. Jack borrowed 4 6000 from a village money lender for 3$$\frac{1}{2}$$ years. Money lender charged interest at the rate of 15 % per annum. At the end of 3$$\frac{1}{3}$$ years. Jack paid$ 5500 cash and one cow to the money lender. Find the price of the cow.

7. Fill in the blanks:

(i) The sum lent is equal __________.

(ii) The money paid for using other’s money is called __________.

(iii) The interest paid on $100 is called __________. (iv) S.I. = $$\frac{P × R × ......}{100}$$ (v) The sum of the principal and interest is called __________. 8. Derek borrowed$ 1800 from his friend Robert. Robert charged interest at the rate of 5 % per annum. Derek returned the money and interest after 8 months. How much money in all did Derek return to Robert?

9. Sally took a loan of $850 from Rita for 3 years at 10 % per annum. After 3 years Sally paid back the loan by giving$ 900 in cash and a new sari. What was the price of the new sari?

Answers for the worksheet on factors affecting interest are given below.

1. (i) $60;$ 560

(ii) $102;$ 2652

(iii) $1524.60;$ 4274.60

(iv) $2400;$ 9600

(v) $468.75;$ 5468.75

2. $60 3. 2 years 4. 5% 5.$ 1170

6. $3650 7. (i) Principal (ii) interest (iii) rate percent (iv) R (v) amount 8.$ 1860

9. \$ 205

Word Problems on Simple Interest.

In Simple Interest when the Time is given in Months and Days.

To find Principal when Time Interest and Rate are given.

To find Rate when Principal Interest and Time are given .

To find Time when Principal Interest and Rate are given.

Worksheet on Simple Interest.

Worksheet on Factors affecting Interest

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