General Mathematics Quiz

What is the term for the interest that is computed on both the principal and the accumulated interest?

• Principal

• Interest

• Simple

• Compound

If you deposit money into a savings account, the amount paid or earned for using that money is called:

• Principal

• Interest

• Simple

• Compound

Miguel Llacuna wants to find the rate of her P5,000 savings account, earning a P700 interest in 2 years. Which of the following formulas is applicable to use?

• I=Prt

• P=I/rt

• t=I/Pr

• r=I/Pt

Which of the following describes the difference between simple interest and compound interest?

• Simple interest is calculated on the original principal amount only.

• Compound interest is calculated on the principal amount plus accumulated interest.

• Both simple and compound interest are calculated on the principal only.

• Compound interest is always lower than simple interest.

Mariel Beronio borrowed P1000 for 1 year at 12% simple interest. How much interest will she be charged?

• P120

• P240

• P210

• P1000

What is the total interest paid if Cris Lawrence Manalon borrowed an amount of P25, 000 at 12% simple interest for 5 years?

• P25, 000

• P40, 000

• P15, 000

• P3, 000

What is the amount of the maturity value if Cris Lawrence Manalon borrowed an amount of P25, 000 at 12% simple interest for 5 years.?

• P25, 000

• P40, 000

• P15, 000

• P3, 000

What is the correct definition of 'maturity value' in simple interest?

• The total principal and interest owed at the end of the loan period

• The amount of interest accrued over time

• The original principal amount

• The amount of interest only

It is the interest that is computed on the principal and also on the accumulated past interest. What type of interest is this?

• Principal

• Simple

• Interest

• Compound

What is the compounding period of the interest compounded semi-monthly?

• 6

• 12

• 24

• 36