credit and debt (simple calculation)

Puan Zakiah makes a personal loan of RM30 000 from a bank with interest rate of 6% per annum. The refund period is for 8 years. What is the monthly installment payable by Puan Zakiah?

• A. RM442.50

• B. RM450.00

• C. RM462.50

• D. RM470.00

Tags

CCSS.7.RP.A.3

Encik Rahim bought a house for RM380 000 in cash. He sold the house for RM620 000 after 5 years. The total amount of the charges involved in the transaction is RM42 000.Calculate the return of investment of Encik Rahim.

• A. 49.5%

• B. 52.1 %

• C. 56.9%

• D. 74.2%

Tags

CCSS.6.RP.A.3C

Chong used credit card to make a payment of RM2500. He didn’t make any repayment after he received the monthly statement. It is given that the finance charge and late payment charge are 15% per annum and 1% of the outstanding balance respectively. Find the total outstanding balance on next month.

• A. RM2 500.00

• B. RM2 525.00

• C. RM2 531.25

• D. RM2 556.25

Tags

CCSS.7.RP.A.3

Krishnan gets a personal loan from Bank K with a flat interest rate of 8% per annum. If he repays over 5 years with a monthly instalment of RM400, how much personal loan does he get?

• A. RM15 556

• B. RM20 488

• C. RM60 000

• D. RM210 000

Tags

CCSS.7.RP.A.3

Aina bought RM2 500 electrical appliances using a credit card.

Below are some of the terms and conditions of the credit card.

Minimum payment : 3% of the credit

Annual interest rate : 15%

Late payment fee : rm10

If the payment due date of the card is 14^th May 2019, and Aina makes a payment of RM200 after 14 May 2019, what is her outstanding balance in June?

• A. RM2 341.25

• B. RM2 331.25

• C. RM2 131.25

• D. RM2 338.75

Tags

CCSS.7.RP.A.3

Diagram 3 shows the selling price and down payment of a smartphone.

Ahmad wants to buy the smartphone. He makes the down payment using credit card and the balance is paid in monthly instalment. What is the total interest to be paid by Ahmad?

• A. RM131.10

• B. RM157.10

• C. RM262.20

• D. RM285.20

Tags

CCSS.7.RP.A.3

At the end of a certain month, Nurul received a statement from Bank W which stated that she has used RM950 of credit. She is obligaed to make minimum payment of RM50 or 5% of the credit used, whichever is higher. State the minimum payment made by Nurul.

• RM47.50

• RM50.00

• RM97.50

• RM1000

• RM997.50

A credit cooperation charges an late payment interest of 1% or RM10, whichever lower, on credit not settled after a grace period of 20 days. If Nancy owes RM740 and she did not make payment before the grae period. Calculate the late payment charge she need to pay.

• RM7.40

• RM10.00

• RM17.40

• RM747.40

• RM750.00

John and Bryan want to purchase plane tickets from America to Malaysia. John uses America currency with exchange rate MYR1=USD0.25 while Bryanuses credit card with the exchange rate of MYR1 = USD0.24 and an extra charge of 2%. IF the ticket cost MYR2350, calcualte the difference between the two purchases in America currency.

• MYR587.50

• USD575.28

• MYR12.22

• USD12.22

• MYR575.28

Mr. Lim borrowed a sum of money from a bank for a period of 8 years with an interest rate of 7% per annum. If he needs to pay a monthly instalment of RM1462.50, find Mr Raju's total loan.

• RM140400

• RM11799

• RM17559

• RM90000