
Simple Discount and Promissory Notes
Authored by Robert Norberte
Mathematics
University
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is another term for interest in advance?
simple interest
simple discount
trade discount
compound interest
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
In the given formula, what does F stand for? Check all that apply.
face value
maturity value
final discount
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
in the given promissory note, what do you call 120 days?
term of discount
maturity date
date of note
term of note
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the given promissory note, who is the debtor?
Gina Bravo
Jaime dela Cruz
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount received by the borrower after the interest in advance is deducted from the amount of loan?
proceeds
discount
profit
interest
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A bank loan for PhP10,000 is discounted at 12% for 270 days. Find the bank discount?
PhP900.00
PhP9,100
PhP887.67
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A bank loan of PhP20,000 is discounted at 11 1/2% on July 25, 2020. If the loan is due in 100 days, what is the maturity date?
November 2
November 3
November 4
November 5
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