ANALYSIS

Instruction: Follow directions per item, the purpose of this task is to exercise your skills in
computation for simple interest in different conditions. Provide a complete solution either hand-
written or encoded.  
1. Determine the Actual and Approximate number of days in the given origin and maturity
dates.

Origin Date Maturity Date Actual Time Approximate Time

A May 22, 1995 July 9, 1995 58 days 57 days
B January 6, 1997 November 6, 1997 303 days 297 days
C March 3, 2007 October 11, 2007 222 days 218 days
D February 4, 1990 November 5, 1992 1,005 days 986 days
E March 2, 2005 November 5, 2006 613 days 601 days

Solution:

A. Actual time Approximate time

May 9 May 8
June 30 June 30
July 19 July 19
58 57

January 25 January 24
B.
February 28 February 28
March 31 March 30
April 30 April 30
May 31 May 30
June 30 June 30
July 31 July 30
August 31 August 30
Septembe 30 September 30
r
October 31 October 30
November 5 November 5
303 297

March 28 March 27
April 30 April 30
May 31 May 30
June 30 June 30
July 31 July 30
August 31 August 30
Septembe 30 September 30
r
October 11 October 11
222 218
C.

D.
February 24 February 24
March 31 March 30
April 30 April 30
May 31 May 30
June 30 June 30
July 31 July 30
E. March
August 29
31 March
August 28
30
April
Septembe 30
30 April
September 30
30
May
r 31 May 30
June
October 30
31 June
October 30
30
July
November 31
30 July
November 30
30
August
December 31
31 August
December 30
30
Septembe
January 30
31 September
January 30
30
rFebruary 28 February 28
October
March 31
31 October
March 30
30
November
April 30
30 November
April 30
30
December
May 31
31 December
May 30
30
January
June 31
30 January
June 30
30
February
July 28
31 February
July 28
30
March
August 31
31 March
August 30
30
April
Septembe 30
30 April
September 30
30
May
r 31 May 30
June
October 30
31 June
October 30
30
July
November 31
30 July
November 30
30
August
December 31
31 August
December 30
30
Septembe
January 30
31 September
January 30
30
rFebruary 29 February 29
October
March 31
31 October
March 30
30
November
April 5
30 November
April 5
30
May 613
31 May 601
30
2. June 30 June 30
Joseph borrowed Php 5,000 on November
July 31 July 30 2, 2015 from Arthemus, which is to be
August 31 August 30 repaid on May 21, 2016 at 6.2% simple
Septembe 30 September 30
r
October 31 October 30
November 5 November 5
1005 986
 interest per year. Find the amount to be repaid. How much will the interest be at the
repayment date if the following time factors are used? 
a. Bankers Rule
I = Prt c. Approximate/360
201 198
I = (5,000)(0.062)( ¿ I= 
360 360
I = 173.08 pesos I = 0.55

b. Exact Simple Interest d. Approximate/365 

I = Prt 198
201 I= 
36 5
I = (5,000)(0.062)( ¿
36 5 I = 0.54
I = 170.71 pesos

3. How much should Mark pay to Michele if he borrowed Php 10,000 on June 25, 2015 and
if the principal and interest are to be paid on November 18, 2015 at 15% simple interest
per year?  Use the following time factors. 
a. Bankers Rule
I = Prt c. Approximate/360 
146 143
I = (10,000) (0.15)( ¿ I= 
360 360
I = 608.33 pesos I = 0.40

b. Exact Simple Interest d. Approximate/365

I = Prt 143
146 I= 
36 5
I = (10,000)(0.15)( ¿
365 I = 0.39
I = 600 pesos

4. At what simple interest rate will a sum of money double itself in 5 years?
5. If Wendy wants to invest her Php25,000, how many years will it take for her savings to
accumulate to Php 40,000 if she invested her savings to a financial institution that
provides a simple interest rate is 4.5% per year? 
6. An amount of P12, 500 is invested at 3.25% simple interest for 3 years. Complete the
table below: 
Time Principal Rate Interest Future Value
0
1
2
3

7. What will be the maturity value of P15, 500 if it is borrowed at 10.5% rate for 10 months? 8.
How much should Mrs. Dolores invest today in a time deposit with 5.5% interest if she expects
to have P175, 000 for his son’s education at the end of 5 years? 
9. Mr. Pascual, an airline owner, decided to invest P2.5 million to fund his department handling
spare parts replacement. How long will it take his investment to accumulate to P3.325 million if
the bank’s interest rate is 5.5%? 
10. Use Banker’s Rule to compute the simple interest of P10, 000 investment at 10% simple
interest rate from April 14, 2004 to November 18 of the same year. 

CLOSURE: SIMPLE INTEREST

LEARNING SKILLS With Not Sure A Little Bit
Confidence Though Confused

∙ Define interest
∙ Solve problems involving simple interest, i.e.,
solve for the  principal, rate, time or interest given
the other 3 quantities..
∙ Differentiate ordinary interest and exact time
and approximate  time.
∙ Compute the exact time and approximate time
∙ Find the ordinary interest and exact interest