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WorksheetsGeneral Mathematics - Simple and Compound Interest
Total questions: 20
Worksheet time: 20mins
(a) is the interest earned when a loan or investment is repaid in a lumpsum.
Variable P in simple interest formula when you are the creditor stands for?
Original Amount borrowed
Original Amount invested
Maturity Amount Borrowed
Maturity Amount invested
Rate of interest must be converted into (a) before substituting to the
formula of finding the interest.
Which of the following describes rate (r)?
It is the amount of money borrowed or invested on the origin date.
It is the amount paid or earned for the use of money.
It is charged by the lender, or rate of increase of the investment
It is computed on the principal and also on the accumulated past interests.
All of the following are used to find simple interest, EXCEPT?
principal
rate of interest
time
future value
It is computed on the original principal, the interest due after a certain time.
Simple interest
Principal
Compound interest
Final Amount
It is the term of period of the loan.
Rate
Interest
Principal
Time
It is the cost of using money expressed as percentage of the principal for a given period of time.
Principal
Time
Rate
Interest
It is the amount borrowed/lent/loan/invested.
Principal
Time
Rate
Interest
In the formula, I= Prt, what is r?
revenue
real value
rate of interest
repaid
A person (or institution) who invests the money or makes the funds available.
Lender
Creditor
Both a and b
None of the choices.
Which of the following describes time or term?
It is the date on which money is received by the borrower.
It is the amount of time in years the money is borrowed or invested; length of time between the origin and maturity dates
It is the date of which the money borrowed or loan is to be completely repaid
It is the amount paid or learned for the use of money.
Which of the following illustrates the simple interest formula?
P=P x r x t
SI=P x r x t
FV=P(1+rt)
MV=F+I
The correct formula to calculate the interest portion of a fixed rate loan payment is ________.
FV = P + I
A = P(1+r/n )^nt
I = P x t x t
None of the above
Which of the following formula can be used to solve for the simple interest?
I = Prt
SI = Prt100
A= P(1 + rt)
All of the above
Given that P = ₱5,250, r = 1.25% and t = 5 years, find the simple interest.
₱32,812.50
₱3,281.25
₱328.13
₱32.82
Given that P = ₱10,500, r = 4 1/2% and t = 8 months, find the simple interest.
₱315.00
₱3,150.00
₱3,780.00
₱31,500.00
Which of the following described to formula 𝐼𝑠=𝑃𝑟𝑡 ?
simple interest
compound interest
present value
maturity value
Given that P = ₱15,250, r = 3.25% and t= 3 years, find the simple interest.
₱24,868.80
₱14,868.80
₱1,486.88
₱148.69
Given that I P = ₱20,820, r = 2 1/4% and t = 9 months, find the simple interest.
₱ 351.34
₱ 3513.38
₱ 4,216.05
₱ 42160.50
