Simple Interest Questions Part 4

1)      Find the principal that will earn $455 in 7 years at 8% simple interest

2)      Find the principal that will earn $750 simple interest in 9 years at 4% per annum

3)      Mr. Frankenstein took a loan from a bank at 13.5% per annum for 6 months and repaid $580.25 simple interest. Find the amount of money Mr. Frankenstein borrowed from the bank.

4)      Mr. Ackerson took a loan from the bank at 13.25% per annum for 9 months and repaid $280 simple interest. Calculate the amount of money Mr. Ackerson borrowed from the bank.

5)      Calculate the rate per cent per annum if $650 interest is paid when $1600 is invested for 8 years

6)      The simple interest on $25 000 for 5 ½ years is $7500. Calculate the rate per cent per annum.

7)      Find the number of years in which $1120 will earn $224 at 10% per year

8)      Find the number of years in which $1000 invested at 15% per annum will earn $900