Simple Interest and Simple Discount Answer The Following Questions. Please Show Your Solutions (3 Points Each Number)
Simple Interest and Simple Discount Answer The Following Questions. Please Show Your Solutions (3 Points Each Number)
Simple Interest and Simple Discount Answer The Following Questions. Please Show Your Solutions (3 Points Each Number)
1. Determine the principal that would have to be invested to provide P750 simple
interest at the end of 21 months if the interest rate is 8%
P=750/.14 P=5,357.14
2. Shan deposits P50,000 in a savings account that pays interest at the rate of 10% per
year. How much is the interest and what will be the total amount after three years?
4. At what annual interest rate is P600 one year ago equivalent to P800 today?
5. How long will it take for an investment of P5,000 to grow to P9,500 if it earns 12%
simple interest per year?
6. Determine the simple interest earned if P4,500 is invested at 12% interest rate in
255 days, a) using exact interest b) using ordinary interest
I=Prt
8. Determine the exact number of days from March 15, 2011 to December 20, 2012.
9. Find the ordinary interest on a 160-day loan of P500,000 if the interest rate is 8%?
10. Determine the approximate number of days from Dec. 15, 2018 to Oct. 10, 2019.
Oct 2019 = 10
12. How much interest will be deducted from a loan worth P30,000 after 2 years with a
discount rate of 5%? How much will the proceeds of the loan be?
14. How much interest will be deducted from a loan worth P50,000 after 3 years with a
discount rate of 7.5%? How much will the proceeds of the loan be?
15. Dominic wants to borrow P15,000 payable in two years at a 10% discount rate. How
much will Dominic receive on the origin date? How much will he pay on the maturity
date?