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### Grade 6 - Mathematics8.13 Simple Interest Word Problems

 Directions: Answer the following qustions. Also write at least five examples of your own.

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### Grade 6 - Mathematics8.13 Simple Interest Word Problems

 Q 1: Bob borrowed \$5,000 from a bank at the rate of 18% per year. He lent \$3,000 to a friend at the rate of 24% per year and \$2,000 to another friend at the rate of 36% per year. How much profit would he earn in 2 years?\$500\$2450\$2081\$1080 Q 2: Principal = \$1,500, Rate = 36%, and Time = 26-2-1991 to 8-7-1991, find the total amount.\$1690.76\$1635.50\$1650.32\$1695.29 Q 3: Jason deposited \$1,000 in a bank account that gave an interest of 5% per annum. Interest is calculated every 6 months and added to the principal. Interest for next 6 months is calculated on the total amount. How much does he get after 1 year?\$1243.78\$1005.35\$1050.63\$1500.45 Q 4: Karen deposited an amount of \$5,000 as a certificate of deposit (CD) in a bank for a period of 3 years. The CD pays a simple interest of 15% per year and pays interest every 6 months. How much interest does she get every 6 months?\$375\$3375\$540\$5375 Q 5: A store owner borrowed an amount of \$3,500 on 6th June, 1991 at the rate of 24% per annum and repaid it on 15th January, 1992. What is the amount he repaid?\$3780.35\$4103.35\$5403.42\$4013.21 Q 6: John deposited \$15,000 in a savings account that paid an interest of 12% per annum. The interest is calculated every 6 months and added to the principal. How much does he get after 1 and 1/2 years?\$18,875.50\$17,865.24\$16,875.74\$15,354.45 Question 7: This question is available to subscribers only! Question 8: This question is available to subscribers only!