Quiz 2.2 Simple Interest

Quiz by Sherwin Salas

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4 questions
• Q1

An 18.40%, 270 day-promissory note was issued on November 12, 2020. If the instrument was settled on maturity date, what is the total settlement amount?

₱ 14,234.38

₱ 13,725.00

₱ 1,725.00

₱ 14,225.00

120s
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• Q2

A promissory note was settled for ₱47,446.35. Its face value was ₱43,800.00 with interest of 16.20%  when it was issued on January 13, 2016. When was the settlement date?

July 17, 2016

July 15, 2016

July 16, 2016

July 14, 2016

120s
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• Q3

Given: PV = ₱132,300.00 / t = 80 days / FV = ₱134,960.70. What is the interest rate?

109.05%

90.50%

9.05%

190.50%

120s
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• Q4

After 6,250 days, the promissory note tripled in amount. At what interest rate was it issued? (Use XX.XX% , example: 12.25%)

11.52%

300s
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