Bank Discount & Promissory Notes
Authored by Chen Khium
Mathematics
University
CCSS covered
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11 questions
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1.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Select ALL the formulas used in the topic of Bank discounts.
S=Maturity value, H=Proceeds, d=discount rate, t=discount terms D=Discount Amount
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Zafri decides to borrow RM25,000 from a bank that charges 4.7% discount rate for 3 years 4 months to set up his business. Find t (in years).
t = 3.4
t = 3
t = 1
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Zafri decides to borrow RM25,000 from a bank that charges 4.7% discount rate for 3 years 4 months to set up his business. Find S (maturity value).
RM 25,000
RM 21,475
RM 21,005
RM 21,083.33
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Zafri decides to borrow RM25,000 from a bank that charges 4.7% discount rate for 3 years 4 months to set up his business. The amount received is RM21083.33.
Find the proceeds.
RM 25,000
RM 21,475
RM 21,005
RM 21,083.33
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Fuad received a 120 days promissory note with a face value of RM6000 at an interest rate of 12%. He then sold the note to a bank after hold for 100 days. Find discount period.
120 days
100 days
220 days
20 days
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A 90-day promissory notes dated 15 March 2022 with a maturity value of RM 1545 was charged a simple interest rate of 12% per annum. Find the maturity date of the note.
15 June 2022
12 June 2022
13 June 2022
14 June 2022
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Happy received a 60-days promissory note. If the maturity date of the note was 19th June 2020. Find the date of the promissory note.
19 April 2020
20 April 2020
18 August 2020
19 August 2020
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