GENERAL MAMERTO NATIVIDAD NATIONAL HIGH SCHOOL

SUMMATIVE ASSESSMENT
GENERAL MATHEMATICS
2nd Quarter, Weeks_1&2_

Name:
Grade and Section:

Direction: Read each item carefully. Choose the letter that corresponds to your answer for each statement. Write the
chosen letter before the number.

I. Introduction to Simple and Compound Interest. (5 points)

_____1. A person who invests the money or makes the funds available.
a. debtor b. lender c. borrower d. mortgagor
_____2. It is a present amount of money borrowed or invested on the origin date.
a. rate b. interest c. principal d. maturity
_____3. It is an amount after t years that the lender receives from the borrower on the maturity date.
a. simple interest b. maturity value c. principal d. compound interest
_____4. A person who owes the money or avails of the funds from the lender.
a. debtor b. creditor c. financier d. investor
_____5. When the total number of conversion periods is 12 and the term is 6 years, then money is compounded______.
a. quarterly b. daily c. annually d. semi-annually

II. Problems Involving Simple and Compound Interest. (10 points)

____1. How long will ₱55,000 amount to ₱72,500 if the simple interest rate is at 12% per annum?
a. 2 years & 7 months b. 2 years & 6 months c. 2 years & 8 months d. 2 years & 5 months
____2. What is the amount of maturity value of a loan for ₱165,000 with an amount of simple interest ₱30, 500?
a. ₱195,300 b. ₱190,000 c. ₱195,000 d. ₱195,500
____3. How much money should a student place in a time deposit in a bank that pays 1.5% compounded annually so that
he will have P500,000 after 4 years?
a. ₱471,698.11 b. ₱471,092.12 c. ₱461,000.00 d. ₱401,092.12
____4. What is the amount of interest of a loan for P35,000 at 5% compound interest for 2 years?
a. ₱3,500 b. ₱3,587.50 c. ₱3,000 d. ₱3,700.50
____5. Kleon borrows ₱60,000 and promises to pay the principal and interest at 10% compounded quarterly. How much
must he repay after 3 years?
a. ₱85,800 b. ₱85,545.65 c. ₱84,545 d. ₱85,545.50