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INSTRUCTIONS:

Solve the following problems.
Put your answer/solution on a
separate sheet of paper

A. Simple Interest
1.
A businessman charges his client ₱2,750 on a loan
of ₱15,800 for 2 years and 3 months. What simple
interest rate is he using?

2.

3.

4.

5.

7.

Sheela can buy a DVD player in a single payment of
$100 or by paying an interest of $10 per month. Find the
rate of simple interest per month.

8.

800 at 4.25% simple interest for 6 years

9.

250 at 5% simple interest for 3 years

10.

900 at 8% simple interest for 1 year

In what time will ₱857 double itself at the rate of 7%
simple interest?

Find the simple interest earned on $2800 deposited
in a bank at 2% annual interest after 5 years.

Find the exact interest on ₱3,850 for 76 days at
4 1/4% simple interest.

5.

Find the ordinary and exact interest on ₱2,750 for 65
days at 4 1/8% simple interest.

6.

Find the ordinary and exact interest on ₱4,750 for 85
days at 5 2/5% simple interest.

7.

Find the ordinary and exact interest on ₱6,580 for
180 days at 6 1/5% simple interest..

B. Ordinary and Exact Interest

1.

Find the ordinary interest on ₱2,100 for 6 days at 5 1/4%
simple interest.

8.

Find the amount and ordinary and exact interest on
₱5,670 for 90 days at 7 2/5% simple interest.

2.

Find the ordinary interest on ₱3,450 for 108 days at
4 2/3% simple interest.

9.

One hundred twenty days after borrowing money,
Lizette Ongjunco pays an interest of ₱215. How much
did she borrow if the simple interest rate is 5 5/8%?

3.

Find the exact interest on ₱4,210 for 200 days at 5 1/5%
simple interest.

Marissa deposited $900 in her savings account. The
rate of simple interest is 5% per year. Find the
balance at the end of 4 years.

Find the simple interest on $800 at a rate of 212%
for 3 years.

6.
Find the final balance after 3 years at 4% simple
Page | 1interest on $1000.

4.

10. Jim deposits $300 in a savings account at an
interest rate of 2% per year. Find the interest earned
in 4 months.