GENERAL MATHEMATICS REVIEWER

1. What is the sum of money paid for the use of money?

• A. Interest

• B. Principal

• C. Final Amount

2. What is the formula for calculating Principal of the simple interest?

• A. 𝑃 =I/rt

• B. 𝑃 = 𝐼𝑟t

• C. 𝑃 = 1 + 𝑟

  𝑡

• D. 𝑃 =

  𝐼𝑟 /t

3. Which of the following formulas is derived from the formula of simple interest?

• A. 𝑃 =

  𝐼 / rt

• B. 𝑃 = 𝐼𝑟𝑡

• C. 𝐼 = 𝑃 1 + 𝑟

  𝑡

• D. 𝐼 = 𝑃 1 + 𝑛

4. In simple interest, what does the term "rate" means?

• A. It is the amount of interest earned.

• B. It is the sum of money invested or borrowed.

• C. It is the interest rate per year.

• D. It is the total amount after interest is added.

5. What does the "Final Amount" in simple interest represent?

• A. The initial amount of money invested

• B. The period of investment

• C. The percentage of the principal paid as interest each period

• D. The sum of the principal and the interest

6. Calculate the simple interest on ₱ 14 000 for 3 years at a rate of 5% per year.

• A. ₱ 1,050

• B. ₱ 2,100

• C. ₱ 3,500

• D. ₱ 3,000

7. John invested ₱ 20,000 at an interest rate of 5% for 5 years.What is the simple interest he willearn?

• A. ₱ 5000

• B. ₱ 6000

• C. ₱ 7000

• D. ₱ 8000

8. What will be the final amount after 3 years if ₱ 10,000 is invested at a 6% simple interest rate?

• A. ₱ 10,600

• B. ₱ 10,80

• C. ₱ 11,800

• D. ₱ 11,600

9. Patricia invests a sum of money at 3% simple interest and the interest grows to ₱ 1 440 after 2 years. What is the principal amount?

• A. ₱ 2,000

• B. ₱ 22,500

• C. ₱ 24,000

• D. ₱ 25,000

10. Anna invested ₱ 15,000 at an 8% interest rate per year. How many years will it take for her investment to earn ₱12,000 in interest?

• A. 10 years

• B. 15 years

• C. 20 years

• D. 25 years