Quiz on Simple interest

1. Compute for I and F on a separate sheet of paper. Show your solution and
encircle your answer.

a. P= ₱ 1,000, r= 10%, t= 3yrs

b. P = ₱3,000, r = 12% , t = 6months
c. P = ₱ 1,200, r= 3%/quarter, t = 2years
d. P = 1,800, r = 1%/month, t= 9 months
e. P = 4,280, r = 10%, t = 5 and ½ years.

2. Ariel takes a loan of ₱ 8,000 to buy a used bike at the rate of 9 % simple Interest.
Calculate the annual interest to be paid for the loan amount.

3. Steve invested ₱ 10,000 in a savings bank account that earned 2% simple

interest. Find the interest earned if the amount was kept in the bank for 4 years.

4. In how much time will the simple interest on ₱ 3,500 at the rate of 9% p.a be the
same as simple interest on ₱ 4,000 at 10.5% p.a for 4 years?