General Mathematics

SCORE

Name: ________________________________________________________________ Date: _____________________

I. Multiple choice. Write the corresponding letter of your answer on the space provided. (NO
ERASURES/ALTERATIONS, USE UPPERCASE LETTERS and BLACK INKED PEN)

______ 1. Semi-annually means there are ______ compounding period/s in one year.
_

a. 2 b. 4 c. 12

______ 2. This can be solved by dividing the nominal interest rate by the number of frequency of conversion.
_

a. investment period b. original principal c. periodic interest rate

______ 3. It is the interest charged on the principal for the entire duration or period of loan.
_

a. compound interest b. maturity value c. simple interest

______ 4. It is money earned when money is invested.

_

a. interest b. loan c. principal

______ 5. It is charged incurred when a loan or credit is obtained.

_

a. interest b. investment c. principal

______ 6. Simple interest is based on __________________.

_

a. rate b. time c. original principal

______ 7. The number of conversion periods in the investment periods can be solved by ________________.
_

a. multiplying t and m b. dividing i and m c. multiplying j and m

______ 8 It is the final amount of the investment or loan at the end of term or last period.
_

a. compound interest b. compound amount c. simple interest

______ 9 _____________ is the Philippine currency.

_

a. dollar b. peso c. pezo

______ 10 Rate of interest should be taken per _________ in solving simple interest.
_

a. annum b. decade c. millennium

11-15
On the birth of a son, a father wished to invest money to accumulate ₱ 1M by the time his son turns 15 years old. If
the interest rate of his investment is 8.75% compounded quarterly, how much should he invest now?

______ 11 How many years are the investment period?

_ .
 a. 15 years b. 1.5 years c. no time given

______ 12 Which formula should be used?

_ .

F 1n F
a. P=M ( 1+i )−n b. i=m [( ) ]
P
−1 x 100%
c.
[ ]
t ( ¿ years )=
log
P
log ( 1+ j )
÷ 
m

______ 13 _______ is the given nominal interest rate

_ .

1 3 2
a. 8 % b. 8 % c. 8 %
4 4 4

______ 14. One million on the given problem is the ___________.

_

a. original principal b. compound amount c. compound interest

______ 15. How much is the compound interest?

_

a. ₱ 272, 981. 71 b. ₱ 272, 981.60 c. ₱ 272, 981.70

16-20
Ms. Morgan got a loan of ₱ 65, 000.00 from a credit union payable at the end of 2 years and 6months to put up a
1
small business. If the credit union charges 8 % simple interest, how much will she repay the credit union?
4

______ 16. How much is the interest rate per annum?

_

a. 8.25 % b. 8.75 % c. .0825 %

______ 17. When will Ms. Morgan pay her debt?

_

a. after 2.5 years b. before 2.5 years c. at the end of 2.5 years

______ 18. How much is her debt in total including the interest?
_

a. ₱ 78, 406.25 b. ₱ 78, 406.20 c. ₱ 78, 405.25

______ 19. How much was the interest being added per annum?
_

a. ₱ 13, 406.25 b. ₱ 5, 362.50 c. ₱ 10, 725.00

______ 20. How much is the total interest?

_

a. ₱ 13, 406.25 b. ₱ 5, 362.50 c. ₱ 10, 725.00

21-25.
How much must a 25 year old man deposit in a bank that gives 7.5% interest compounded monthly so that
on his retirement at 60 years old, he will have ₱ 3, 000, 000.00?

______ 21. How many years will he put his money in a bank?
_

a. 60 years b. 25 years c. 35 years

______ 22. At what rate of interest the bank offered him?

_

a. 0.075% b. 0.075 c. 7.5 %

______ 23. How much should he deposit?

_

a. ₱ 219, 101.84 b. ₱ 218, 101.85 c. ₱ 219, 101.85

______ 24. How much is the compound amount?

_

a. ₱ 2, 780, 888.15 b. ₱ 3, 000, 000.00 c. ₱ 2, 780, 898.15

______ 25. How much is the compound interest?

_

a. ₱ 2, 780, 888.15 b. ₱ 3, 000, 000.00 c. ₱ 2, 780, 898.15