Translating Simple Interest Word Problems
Translating simple interest word problems is a Grade 6 percent application skill in Big Ideas Math Advanced 1, Chapter 15: Percents. Students use the simple interest formula I = P x r x t (Principal x rate x time) to identify and substitute the given values and solve for interest earned, total amount, or one of the formula components.
Key Concepts
To translate a simple interest word problem into an equation, identify the unknown variable and use the simple interest formula $I = Prt$ where $I$ is interest, $P$ is principal, $r$ is rate, and $t$ is time. Look for the given values in the problem and determine which variable you need to solve for.
Common Questions
What is the simple interest formula in Grade 6?
The simple interest formula is I = P x r x t, where I is the interest earned, P is the principal (starting amount), r is the annual interest rate as a decimal, and t is the time in years.
How do you translate a simple interest word problem into an equation?
Identify the principal, rate, and time from the problem. Convert the percent rate to a decimal. Then substitute into I = Prt to find the interest. Add the interest to the principal to find the total amount: A = P + I.
What is an example of a simple interest problem?
A savings account has at 3% annual interest for 2 years. Using I = Prt: I = 500 x 0.03 x 2 = . Total amount = + = .
Where is simple interest taught in Big Ideas Math Advanced 1?
Translating simple interest word problems is covered in Chapter 15: Percents of Big Ideas Math Advanced 1, the Grade 6 math textbook.