Engineering Sciences and Allied Subjects

Mr. J. Reyes borrowed from the bank. He received from the bank P1,842 and promise to repay P2,000 at the end of 10 months. Determine the simple interest.

• A. 19.45%

• B. 15.70%

A loan for P50,000 is to be paid in 3 years at the amount of P65,000. What is the effective rate of money?

• A. 10%

• C. 13%

The amount was invested at 6% and another was invested at 8.5% both at simple interest for a time of one year. The total amount invested is P8,000 with a total sum of interests of P542.50. What would be the smaller amount that can be invested at 8.5%?

• A. P3,500

• B. P3,000

• C. P2,500

• D. P4,000

You loan from a loan firm an amount of P100,000 with a rate of simple interest of 20% but the interest was deducted from the loan at the time the money was borrowed. If at the end of one year, you have to pay the full amount of P100,000 what is the actual rate of interest?

• A. 25.0%

• B. 27.5%

• C. 30.0%

• D. 18.8%

A time deposit of P110,000 for 31 days earns P890.39 on maturity date after deducting the 20% withholding tax on interest income. Find the rate of interest per annum.

• A. 12.5%

• B. 12.25%

• C. 11.75%

• D. 11.95%

What is the effective annual interest rate on a loan if nominal interest rate is 12% per year compounded quarterly?

• A. 15.5%

• B. 15.65%

• C. 12.55%

• D. 12.75%

A person pays interest on a loan semi-annually at a nominal annual interest rate of 16%. What is the effective annual interest rate?

• C. 16.5%

• D. 16.64%

What rate of interest corresponding to 18% compounded daily? Take 1 year is equal to 360 days.

• A. 18.35%

• C. 18.61%

• B. 19.72%

• D. 19.39%

A bank offers 1.2% effective interest with monthly compounding, find the effective rate per annum.

• A. 14.48%

• C. 15.4%

• D. 16.57%

• B. 15.65%

If P25,000 is invested at 6% on January 1, year 1, how much will be accumulated by January 1, year 10?

• A. P22,236.47

• C. P42,236.97

• P32,236.97