Free Printable WorksheetSocial StudiesGrade 7Social Studies CurriculumEPF.7.52

7.52 Simple and Compound Interest Worksheet

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Worksheet Overview & Skills Covered

Core academic competencies and curriculum alignment

This Grade 7 Social Studies worksheet provides structured practice on 7.52 Simple and Compound Interest. Students are guided through targeted exercises that build foundational understanding, computational accuracy, and critical thinking skills.

Simple and Compound Interest - Which choice best demonstrates this skill — Simple and Compound Interest — by asking students to calculate simple and compound interest, compare growth across time, and evaluate the impact of interest rates on borrowing and saving.? (CEE/Jump$tart 2021 Topics II–IV)

Whether you are an educator preparing classroom handouts, a tutor reinforcing weekly topics, or a parent supporting homeschool learning, this printable resource gives students the deliberate practice required to achieve subject fluency and master state standards.

Grade

Grade 7

Subject

Social Studies

Domain

Social Studies Curriculum

Formats

PDF & DOCX

Sample Practice Problems

Preview the types of problems and questions covered in this worksheet

Below are sample questions representative of the exercises included on this worksheet and related 7.52 Simple and Compound Interest skill assessments:

Problem 1Difficulty: Mastery

Mikhail chooses between two savings options with different compounding schedules. Over 2 years, Mikhail saves $2,000.00 in an account at 6% APR compounded monthly, but also borrows $1,600.00 at 8% APR compounded monthly (no payments until the end).

At the end of 2 years, what is the net result (savings balance minus loan payoff), nearest cent?

A$-1,876.62

B$400.00

C$377.70

D$2,254.32

Solution & Explanation:Compute savings: S = P_s(1+r_s/12)^(12t). Compute loan payoff: L = P_b(1+r_b/12)^(12t). Net = S − L = $2,254.32 − $1,876.62 = $377.70.

Problem 2Difficulty: Hard

Noah borrows $1,500 at 7% simple interest for 1 year.

How much interest will Noah owe after 1 year?

A$105

B$107

C$150

D$1,605

Solution & Explanation:Simple interest is principal x rate x time. $1,500 x 0.07 x 1 = $105.

Problem 3Difficulty: Mastery

Sofia shops for a bank account that advertises APY. Sofia invests $2,500.00 at 6% for 6 years. One version compounds annually; another compounds monthly.

Approximately how much MORE money does monthly compounding produce than annual compounding (nearest cent)?

A$33.81

B$1,080.11

C$3.38

D$-16.19

Solution & Explanation:Compute both: A_month = P(1+r/12)^(12t) and A_annual = P(1+r)^t. Difference = A_month − A_annual ≈ $33.81.

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Frequently Asked Questions

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QWhat grade level and standards does this worksheet align with?

This worksheet is designed specifically for Grade 7 Social Studies students. It aligns with educational standard EPF.7.52 (Grade 7 social studies practice focused on simple and compound interest.).