Help your students prepare for their Maths GCSE with this free simple interest worksheet of 44 questions and answers
Simple interest is a method of calculating interest based on what is in the account at the beginning of the period. Simple interest could be used to calculate the amount of interest payable into a bank account or on a loan.
Calculating simple interest is done using the annual interest rate. The percentage of the original value is calculated and that amount of money is added to the account each year. For example, if £100 is invested into a savings account with a simple interest rate of 4% per annum, then £4 is added to the account each year. The total amount of interest will be equal to £4 multiplied by the number of years that the money is invested for.
There is a simple interest formula which can be used to calculate the amount of simple interest to be paid: Simple interest = P x R x T where P is the principal (original) investment, R is the interest rate (as a decimal) and T is time.
Looking forward, students can then progress to additional number worksheets, for example a fractions worksheet or a rounding worksheet.
For more teaching and learning support on Number our GCSE maths lessons provide step by step support for all GCSE maths concepts.
There will be students in your class who require individual attention to help them succeed in their maths GCSEs. In a class of 30, it’s not always easy to provide.
Help your students feel confident with exam-style questions and the strategies they’ll need to answer them correctly with our dedicated GCSE maths revision programme.
Lessons are selected to provide support where each student needs it most, and specially-trained GCSE maths tutors adapt the pitch and pace of each lesson. This ensures a personalised revision programme that raises grades and boosts confidence.