Simple interest growth
Calculate simple interest earned on savings at a given annual rate. Unlimited questions, five difficulty levels, and a full worked solution every time — free.
Try one
You put $500.00 into a savings account earning 2% simple interest per year. How much interest do you earn after 3 years?
I = P · r · t
Answer: $30.00
See one solved, step by step
You put $800.00 into a savings account earning 6% simple interest per year. How much is in the account after 4 years?
I = P · r · t
📘 Worked solution
1I = 800 · 0.06 · 4 = $192.00Convert 6% to 0.06 and multiply all three.
2$800.00 + $192.00 = $992.00Add the interest to the original deposit.
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