ZOLINA, ZANDRIX WEN B.

9-14-2022
PCEIT-03-301P EECO

SEATWORK:

1.) If P1000 accumulates to P1500 when invested at a simple interest for three years, what is the rate of
interest?

Given: solution:
P = P1000 i = PnI P1500 – P1000 = P500

I = 1500 i= 𝐼
= (1000)(3) = 0.1667
500
𝑃𝑛

N = 3 years 0.1667(100) = 16.67%

I =?

2.) Determine the exact simple interest on P5000 for the period from Jan. 15 to Nov.28 1992. If the rate
of interest 22%.

Given: Solution:
P = P5000 I January 15= 16 (excluding Jan.15)
= 22% February = 29
n = Jan 15 to Nov 28, 1992 March = 31
April = 30
May = 31
June = 30
July = 31
August = 31
September = 30
October = 31
November 28 = 28 /318
318
=
5000 ) (0.22]) = 𝑷𝟗𝟓𝟓. 𝟕𝟒
366
[(

3.) A loan of P5,000 is made for a period of 15 months, at a simple interest rate of 15%, what future
amount is due at the end of the loan period?

GIVEN:
P = P5000 Solution:
N = 15months I F = P(1+ni)
– 15% (5000) (1+(15/12) (0.15)) F = P5937.5
F =?
4.) What will be the future worth of money after 12 months if the sum of P25,000 is
invested today at simple interest rate of 1% per year?

GIVEN:
P = P25000
N = 12months
I – 1% PER YEAR
F =?
Solution:
F = P(1+ni)
= (25000) (1 + (12) (0.01) 𝐹 = 𝑷𝟐, 𝟐𝟖𝟎

5.) P5,000 is borrowed for 75 days at 16% per annum simple interest. How much will be due at
the end of 75 days?

GIVEN:
P = P5,000
N = 75days
I – 16% PER annum
F =?
Solution:
F = P(1+ni)
75
= 5000 [1 + (0.16)] 𝑭 = 𝑷𝟓𝟏𝟔𝟒. 𝟑𝟖
365

HOMEWORK:

1.) What will be the future worth of money after 12 months if the sum of P25,000 is
invested today at simple interest rate of 1% per month?

GIVEN:
P = P25000
N = 12months
I – 1% PER month
F=?
Solution:
F = P(1+ni)
= (25000)(1 + (12)(0.01) 𝐹 = 𝑷𝟐𝟖𝟎𝟎𝟎
2.) A loan of P2000 is made for a period of 13 months from January 1 to January 31 the
following year at a simple interest rate of 20%. What future amount is due at the end of loan
periods?

GIVEN:
P = P2000
n = 13months
I – 20%
F=?
Solution:
F = P(1+ni)
13
= 2000 [(1 + ( ) (0.2))] 𝐹 = 𝑷𝟐, 𝟒𝟑𝟑. 𝟑𝟑
12

3.) Annie buys a television set from a merchant who ask P1,250.00 at the end of 60 days. Annie
wishes to pay immediately and the merchant offers to compute the cash price on the assumption
that money is worth 8% simple interest. What is the cash price?

GIVEN:
P = P1250
n = 60 DAYS
I – 8%
F=?
Solution:
F = P(1+ni)
60
= (1250) (1 +( ) (0.08)) 𝐹 = 𝑷𝟏, 𝟐𝟔𝟔. 𝟔
360

4.) A man borrowed money from a loan shark. He receives from the loan shark and amount of
P1,342.00 and promised to repay P1,500.00 at the end of 3 quarters. What is the simple interest
rate?

GIVEN: SOLUTION:
P = P1342.00 i= 𝐼
𝑃𝑛 P1500 – 1342
I = P1500
158
n = 3 quarters =[ 3 ] = 15.69%
(1342)( )
4
I=?
5.) The exact simple interest of P5,000 invested from June 21,1995 to December 25,1995 is P100.
What is the rate of interest?

Given:
P = P5000 Solution:
I = 100 June 21 = 10 (excluding Jan.21)
n = Jan 21 to December 25, July = 31
1995 August = 31
September = 30
October = 31
November = 30
December = 25 / 338
𝐼
i=
= (5000)(188) = 0.038
100
𝑃𝑛
365

0.038(100) = 3.8%