Grade 7 · Math

7th grade Interest: simple and compound compared worksheet

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Interest: simple and compound compared

Grade 7 Math Worksheet - Building Confidence

NameDate

Circle the best answer, or write your answer on the line.

Ari reads a pretend savings table. Ms. Frost's pretend savings account holds $200 and earns 5% interest in 1 year. How much interest does it earn in that year?
Esme reads a pretend savings table. Mr. Dunn's pretend savings account holds $250 and earns 3% interest in 1 year. How much interest does it earn in that year?
Jun reads a pretend savings table. The art club's pretend fund holds $400 and earns 2% interest in 1 year. How much interest does it earn in that year?
The class trip fund holds $120 and earns 5% interest in 1 year. Luz wants the balance after 1 year. How much is in the account then?
Mr. Cole's pretend savings account holds $450 and earns 2% interest in 1 year. Milo wants the balance after 1 year. How much is in the account then?
The school garden club's pretend fund holds $500 and earns 3% interest in 1 year. Noah wants the balance after 1 year. How much is in the account then?
Read this first
Percent money table
Line Percent Amount
amount saved 100% $500
interest for 1 year 2% $10
interest for 3 years ? ?
Pia reads the table for Ms. Shaw's pretend savings account. It earns simple interest each year. How much interest does it earn in 3 years?
Tala reads the table for The class trip fund. It earns simple interest each year. How much interest does it earn in 2 years?
Zee reads the table for Mr. Grove's pretend savings account. It earns simple interest each year. How much interest does it earn in 2 years?
Amount saved | 100% | $200; 1% | $2; interest for 1 year | 6% | blank. Mr. Dunn's pretend savings account holds $200 and earns 6% simple interest each year. Using the table, how much interest does Ari find for 2 years?

Line	Percent	Amount
amount saved	100%	$500
interest for 1 year	2%	$10
interest for 3 years	?	?

7th grade Interest: simple and compound compared worksheet – printable — Print: 1 2 3 4 5 6

About this worksheet

Interest: simple and compound compared. Every version has 10 questions, and the answer key prints on the second page.

What your child will learn

I can find the simple interest and the balance for any number of years, and the rate or the number of years from the interest.
I can find a compound balance for 2 or 3 years, one table a year.
I can tell how much more compound earns than simple, and which of two accounts earns more.

Standard: 7.RP.A.3 (simple interest)

Words to know

amount saved: The money put in at the start. It is the first 100% line.

interest: Extra money an account earns, a percent of the amount saved.

rate: The percent earned in one year.

balance: All the money in the account: the amount saved plus the interest.

simple interest: Each year earns the same, a percent of the first amount saved.

compound interest: Each year's balance is the new 100% line, so interest earns interest.

Common mistakes

Your child wrote the rate as if it were dollars (4% as $4).

Your child moved the decimal point one place too few, as if 5% were 0.5 instead of 0.05.

Your child found the interest and then added it to the amount saved, but the question asked only for the interest.

What to say

Ask: is 4% of $150 really $4?

Ask: is 5% five out of every 10, or five out of every 100?

Ask: which part of the balance is the extra money earned?

Questions parents ask

What is the most common mistake with interest: simple and compound compared?

Your child wrote the rate as if it were dollars (4% as $4).

How can I help my child with interest: simple and compound compared?

Ask: is 4% of $150 really $4?

Are these 7th grade math worksheets free to print?

Yes. All 6 printable versions at each level are free to print, with the answer key, and no account is needed.

More grade 7 math

See all grade 7 math

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