PROBLEMS ON SIMPLE INTEREST

1. Find the simple interest and the total amount after three years.

Principal = 7800, Annual rate of interest = 9.5%

2. When Kevin bought a new office phone, he borrowed $1,200 at a rate of 18%

for 9 months. How much interest did he pay?

3. Isabella deposited $500 into a savings account at a local bank that earned 5

% interest per year. How much interest does she earn per year?

4. Rani put $1,000 into a savings account that earns 4% in interest. How much

will she have after 3 years?