Republic of the Philippines

DEPARTMENT OF EDUCATION
Region VII, Central Visayas
Division of Cebu Province
District of Santa Fe
Santa Fe, Cebu

1st
SUMMATIVE TEST in GENERAL MATHEMATICS (Quarter 2)

Name: ____________________________________Grade Level: ______ Track:________ Date: __________

Test I: Multiple Choice

Directions: Choose and encircle the letter that correspond the correct answer.

1. It is known to be a fixed percentage of the principal amount that was borrowed or lent.
A. Simple Interest C. Accumulated Interest
B. Compound Interest D. Business Interest
2. It is calculated based on the accumulated amount at a given time period less the principal amount at
present.
A. Simple Interest C. Accumulated Interest
B. Compound Interest D. Business Interest
3. A man deposited Php20,000.00 in the bank. How much interest is earned by the depositor if it earns
simple interest rate of 2% per annum in 3 years?
A. P12,000 C. P6,000
B. P4,000 D. P1,200
4. P250,000 was invested and was assured of an interest rate of 5% compounded annually. Which of
the following correctly illustrates the computation of the future amount in 5 years?
A. 𝐴=𝑃250,000×0.05×5 C. 𝐴=[𝑃250,000(1.05)]5
B. 𝐴=𝑃250,000(1.05)5 D. 𝐴=𝑃250,000(1.05)5×5
5. Person or institution that makes the money or makes the funds available.
A. Principal C. Lender
B. Borrower D. User
6. In compound interest,
A. the borrower will pay the principal and the interest.
B. the lender will add additional interest based on the principal amount.
C. The interest added to the principal also earns interest.
D. Additional charges will be imposed other than the interest per month.
7. Rina bought 100 shares of Paper Mill stock at Php150.00 per share. The broker charged her Php750.00
commission. Find the total cost of the stock.
A. Php15,750.00 C. Php16,750.00
B. Php15,725.00 D. Php16,750.00
8. Find the present value of a deferred annuity of Php1500 every 3 months for 8 years that is deferred 3
years if money is worth 6% converted or compounded quarterly.
A. Php32,000 C. Php33,789.35
B. Php31,699.68 D. Php32,567.68
9. The price the buyer is willing to pay for the stock.
A. Ask Size C. Bid Price
B. Bid Size D. Ask Price
10. A deposit of Php100 is places into a college fund at the beginning of every month for 10 years. The
fund earns 9% annual interest, compounded monthly, and paid at the end of the month. How much is
in the account right after the last deposit?
A. Php 20,483.35 C. Php18, 356.43
B. Php19,351.43 D. Php17,865.45
11. It is the per share amount as stated on the company certificate.
A. Par Value C. Fair Market Value
B. Market Value D. Stock Value
12. It is the share in the ownership of a company.
A. Stocks C. Interest
B. Loans D. Bonds
13. Find the yield on Php1000.00, 9% ACTS bond priced at 94 plus Php10.00 commission.
A. 51% C. 47%
B. 45% D. 49%
14. It is the periodic interest payment that the bondholder receives during the time between purchase and
maturity date.
A. Dividend C. Check
B. Coupon D. Quotient
15. It is a paper issued to a shareholder which shows on its face the number of shares it represents.
A. certificate number C. market price
B. stock certificate D. par value
16. It is a form long-term investment issued by a corporation or government where the purchaser becomes
a creditor of the company.
A. stocks C. dividend
B. bond D. stock certificate
17. It is a payment to an agent or sales person based on the value or quantity of goods bought and sold;
broker’s or brokerage fee.
A. sales C. commission
B. rate D. interest
18. It is the rate compounded annually that will give the same compound amount as a given nominal rate.
A. Equivalent Rate C. Rate
B. Nominal Rate D. Effective Rate
19. Lisa received a commission of Php11,000.00 on a sale of Php200,000.00. What was her rate of
commission?
A. 6% C. 5%
B. B. 6.5% D. 5.5%
20. Is a fixed sum of money paid to someone at regular intervals, subject to a fixed compound interest
rate.
A. Annuity C. annuity due
B. Interest D. Perpetuities
21. A house cost Php210,000.00, if the inflation rate over that period averages 3% compounded annually,
what will be the cost of the house after 10 years?
A. P282, 222.44 C. P822, 222.44
B. P228, 222.44 D. P222, 822.44
22. An annuity in which periodic payment is not made at the beginning nor at the end of each payment
interval, but some later date.
A. Deferred Annuity C. simple annuity
B. Ordinary Annuity D. Annuity Due
23. It is an interest conversion or compounding period is unequal or not the same as the payment interval.
A. Ordinary annuity C. annuity certain
B. General annuity D. annuity
24. It is the amount paid or earned for the use of money.
A. interest C. term
B. rate D. time
25. If Php15,000.00 is invested, which of the following has a higher profit?
A. 9% compounded monthly. C. Cannot be determined.
B. 9.3% compounded annually D. Both A & B
26. It is an interest that is computed on the principal and then added to it.
A. simple interest C. compound interest
B. simple annuity D. general annuity
27. A type of annuity in which the payments made at the beginning of each interval.
A. annuity certain C. deferred annuity
B. contingent annuity D. ordinary annuity
28. It is the amount of money borrowed or invested on the origin date.
A. principal C. periodic
B. payment D. price
29. A sequence of payments made at equal or fixed intervals or period of time.
A. interest C. stocks
B. annuity D. bonds
30. Mr. Santos owns 45 bonds with a par value of Php1000.00 each and pays 8 ½% interests. What
annual income does Mr. Santos get from these bonds?
A. Php3,825.00 C. Php4,825.00
B. Php3,925.00 D. Php4,925.00
31-33. Mr. Ribaya received two offers on a lot that he wants to sell. Mr. Ocampo has offered
Php50,000.00 and Php1,000,000 lump sum payment 5 years from now. Mr. Cruz has offered
Php50,000.00 plus Php40,000 every quarter for 5 years.
31. Find the fair market value of Mr. Cruz offer.
A. Php755,572.68 C. Php760,575.68
B. Php756,572.68 D. Php758,758.68
32. Find the fair market value of Mr. Ocampo offer.
A. Php933,526.17 C. Php833,526.17
B. Php733,566.17 D. Php1,033,526.17
33. Find the difference between the market value of the two offers at the start of the term.
A. Php77,953.49 C. Php78,953.49
B. Php76,953.49 D. Php80,953.49
34. It is the date on which the money borrowed or loan is to be completely repaid
A. Present Date C. Repayment Date
B. Billing Date D. Origin Date
35. It is the current price of a stock at which it can be sold.
A. Par Value C. Fair Market Value
B. Market Value D. Stock Value
36. It is equal to the down payment plus the present value of the installment payments.
A. Cash Inflow C. Cash Price
B. Cash Outflow D. Cash Flow
37. It is the value of a cash flow on particular dates refers to single amount that is equivalent to the value
of the payments stream at that date.
A. Economic Value C. Fair Market Value
 B. Market Value D. Stock Value
38-39. Lyza and Lyka are twins. After graduation and being able to get a job, they plan for retirement
as follows:
 Starting at age 24, Lyza deposits Php 10,000.00 at the end of each year for 36 years.
 Starting at age 42, Lyka deposits Php 20,000.00 at the end of each year for 18 years.
Who will have the greater amount at retirement if both annuities earn 12% per year compounded
annually?
38. How much is the retirement of Lyza?
A. Php1,114,994.30 C. Php4,845,631.16
B. Php1,014,994.30 D. Php4,844,631.16
39. How much is the retirement of Lyka?
A. Php1,114,994.30 C. Php4,845,631.16
B. Php1,014,994.30 D. Php4,844,631.16
40. Suppose Mr. and Mrs. Soriano deposited Php20,000.00 at the beginning of each year for 5 years in an
investment that earns 10% per year compounded annually, what is the amount or future of the annuity?
A. Php135,312.50 C. Php134,312.50
B. Php136,312.50 D. Php140,312.50

“Lord, give me a dream that allows me to fly and the faith to pursue it, no matter how high”

Prepared by:
ANABELLE S. CATALUÑA
T2- HNHS

Reviewed by:
CRISTOPHER A. MANCAO
T2- SFNHS