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Simple and Compound Interest

Quiz by

Grade 11
General Math
Philippines Curriculum: SHS Core Curriculum Subjects

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9 questions
Show answers
  • Q1
    Cora has Php 30 in a savings account that earns 10% annually. How much interest will she earn in 1 year?
    Php 3
    30s
  • Q2
    Richard deposited Php 5,500 for 6 years on 2.40% interest rate in his savings account. How much simple interest will he earn?
    Php 792
    30s
  • Q3
    You are starting your own small business in Barangay Dona Rosario. You borrow Php 10,000 from the bank at a 9% rate for 5 years. Find the interest you will pay on this loan.
    Php 4,500
    30s
  • Q4
    You are tired at the end of the term and decide to borrow Php 500 to go on a trip to Whatever Land. You go to the bank and borrow the money at 11% for 2 years. a) Find the interest you will pay on the loan. b) How much will you have to pay the bank at the end of the two years?
    a.) Php 110 b.) Php 610
    60s
  • Q5
    a) Find the interest on a loan of Php 2500 that is borrowed at 9% for 7 months. b) How much would it cost to repay the loan from 4a) above?
    a.) Php 131.25 b.)Php 2631.25
    60s
  • Q6
    Kim deposits Php 650 in an account that earns 4% interest compounded annually. How much money is in the account after 2 years?
    Php 703.04
    120s
  • Q7
    Solve the problem using the compound interest formula. John deposits $500 in an account that earns 2.5% interest compounded annually and keeps the money in the account for 3 years. Monty deposits $500 in an account that earns 5.1% interest compounded annually and keeps the money in the account for 2 years. Who has more money when he closes his account?
    Monty
    120s
  • Q8
    Php 10,000 is invested at 0.75% annual interest for 2 years. a. Simple Interest b. Compound Interest
    a.) Php 10, 150 b.) Php 10, 150.56
    120s
  • Q9
    You borrowed Php 59,000 for 2 years at 11% which was compounded annually. What total will you pay back?
    Php 72, 693.9
    120s

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