QUIZ MASTER’S COPY :

1. How much interest is charged when P50,000 is borrowed for 9 months at an annual simple
interest rate of 10%?

ANSWER: P3,750

2. When invested at an annual interest rate of 7%, an amount earned P11,200 of simple interest in
two years. How much money was originally invested?

ANSWER: P80,000

3. IDENTIFICATION
It refers to an amount of money borrowed or invested on the origin date.

ANSWER: Principal

4. What amount of interest will be charged on P15,000 borrowed for six months at a simple
interest rate of 15%?

ANSWER: P112.50

5. IDENTIFICATION
It refers to an amount paid or earned for the use of money.

ANSWER: Interest

6. How long will it take for P8,000 to earn P360 at 6%?

ANSWER: 9 months or 0.75 year

7. Justin borrowed P5,000 at 5% annual simple interest rate. If he decided to pay after 1 year and 3
months, how much should he pay by then?

ANSWER: P5,312.50

8. What is the name of your General Mathematics teacher?

ANSWER: Albert O. Almine