WorksheetsSimple Interest, Bank Discount and Promissory Notes
Total questions: 20
Worksheet time: 15mins
Nazirul had saved RM 3,500 in an account which offered 8% simple interest per annum. He withdraw RM 1,000 from the account 7 months later. How much left in the account?
RM 3633.33
RM 2633.33
RM 75000
RM 74000
Ali borrowed RM 12,000 for 100 days at the discount rate of 5% from a bank. Find the bank’s discount.
RM 166.67
RM 1666.67
RM 60,000
RM 600,000
Ammar received a 130-day promissory note that was made on 28th August 2015 with a simple interest of 6.5% per annum and a face value of RM 50,050. Find the maturity date of the note.
5 Jan 2015
5 Jan 2016
7 Jan 2015
7 Jan 2016
Ammar received a 130-day promissory note that was made on 28th August 2015 with a simple interest of 6.5% per annum and a face value of RM 50,050. Find the maturity value of the note using Banker’s Rule.
RM 51,224
RM 5168.53
RM 472,500
RM 51,224.78
Zarifah invests RM X in a bank. After 38 months, her investment will be worth RM 45,000. If the simple interest is 10% per annum, find the value of X.
RM 9375
RM 216,000
RM 34,177.22
RM 59,250
The rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a______.
fraction
decimal
ratio
Ringgit Malaysia
The Principal and Interest are always___________.
fraction
decimal
percent
Ringgit Malaysia
4.3%
0.37
Imran borrowed RM 12,000 for 115 days at the discount rate of 3% from a bank. Find the proceeds received by Imran from a bank.
RM 115
RM 11,885
RM 1,885
RM 29,400
Saufi invested RM 25,000 for a period of 8 years. He was offered 6.5% per annum simple interest rate for the first three years and 8% per annum for the entire period. Find the simple interest earned.
RM 14,875
RM 34,875
RM 54,875
RM 29,000
Ammar received a 125-day promissory note with an interest rate of 4.25%. The note would mature on 26 October 2017 with a maturity value of RM 25,500. However twenty five days before the maturity date, he discounted the note at a bank and the proceed received was RM 25,300. Find the face value
RM 25,129.17
RM 24,641.35
RM 25,135.16
RM 25,135
Ah Keong received a 100-day promissory note on 17th April 2013 with an 8% simple interest rate per annum. After 40 days, he discounted the note at a discount rate of 6% and received proceeds of RM 18,300. Find the discount amount.
RM 184.85
RM 1184.85
RM 216.99
RM 84.85
RM2000 was borrowed for 72 days at a discount rate of 8.75%. Determine the amount received
RM 1,965
RM 196.05
RM 1,965.50
RM 35
A 180-day promissory note dated 8 June 2012 had a face value of RM 2,000. The simple interest rate charged was 6.6% per annum. Determine the maturity value.
RM 2,066
RM 66
RM 20.66
RM 266
Ishqina received a promissory note dated 12th February 2012 with a simple interest rate of 7.5%. The note will mature on 11th June 2012. After she kept the note for 75 days, she sold the note to a bank at a discount rate of 6.4% and received proceeds of RM 6,914.24. Find the term of the note.
120 days
4 months
121 days
4 months 1 day
Rimba Bara is a rock band who plans to record their album and sells their DVDs to their fans. On 19/3/2010 they decide to sign a promissory note with a recording company, Rock & Rolling Recording Studio with a face value of RM 8,000 at 7% interest rate. The note will mature on 16/8/2010. However, on 7/7/2010, Rock & Rolling Recording Studio decides to sell their note to a bank with a bank discount RM 110.33 at 9% discount rate. Who is the payee of the note?
Rock & Rolling Recording Studio
Rimba Bara
Rimba Bara fans
