JULY 2023_NOV 2023 MAT 3113

TUTORIAL 2

Please answer all question in foolscap paper or A4 paper and submit your answer.

1. Razil received a 120-days promissory note with a simple interest of 4% per

annum. The maturity value of the note is RM 1,560. Find the face value of the
note.

2. Syamil received a 60-days promissory note with a simple interest rate of 8%

and a maturity value of RM 2,533.33. The maturity date of the note was 19th
June 2014. Find:

a) the date of the note.

b) the face value of the note using the Banker’s Rule.

3. Aisyah borrowed RM15,000 for 2 years 5 months at a discount rate of 7.5%

per annum. Find the proceeds received.

4. Sarah borrowed RM 7,500 from Bank ABC for 2 years to pay off some bills
and catch up on car payments. If the proceeds received were RM 6,375, find
the discount rate that was charged.

5. Melissa, a businesswoman, receives a promissory note for RM8,000 with

interest at 9% per annum. The note dated 12 May 2015 is due in 90 days. The
note is discounted on 15 July 2015 at a bank that charges 6% discount. Find

a) the maturity date.

b) the maturity value.
c) the discount period.
d) the proceeds

6. Irfan received a 110-days promissory note on 16 June 2018 with a simple

interest of 5% per annum. He discounted the note after 58 days at a discount
rate of 3% and the proceeds received were RM 10,000. Find:

a) The maturity date of the note.

b) The maturity value of the note.
c) The face value of the note.