Translate Simple Interest Word Problems
This Grade 7 math skill from Reveal Math, Accelerated teaches students to translate simple interest word problems into mathematical equations. Students identify the principal, rate, and time from a problem context and apply the formula I = P × r × t to find the interest or a missing variable.
Key Concepts
To translate a simple interest word problem for a single year, identify the key components of the simple interest formula, $I = p \cdot r$: $I$ (Interest): The extra money earned or paid. $p$ (Principal): The initial amount of money invested or borrowed. $r$ (Interest Rate): The percent of the principal earned or paid, written as a decimal.
Common Questions
What is the simple interest formula?
The simple interest formula is I = P × r × t, where I is interest, P is principal (starting amount), r is the annual interest rate, and t is time in years.
How do you translate a simple interest word problem?
Identify the principal, interest rate, and time period from the problem, then substitute those values into I = Prt to find the missing quantity.
What does principal mean in a simple interest problem?
The principal is the original amount of money deposited or borrowed, before any interest is added.
Can simple interest problems involve finding the rate or time?
Yes. If you know the interest, principal, and one other value, you can rearrange I = Prt to solve for the unknown rate or time.
Where is simple interest taught in Grade 7?
Translating simple interest word problems is covered in the Grade 7 Reveal Math, Accelerated textbook.