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Simple Interest Compound Interest Sample Problems

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Miguel Brazas
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10 views

Simple Interest Compound Interest Sample Problems

Uploaded by

Miguel Brazas
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ECONOMICS

SIMPLE INTEREST - SAMPLE PROBLEMS

1.) Determine the ordinary simple interest on ₱10,000 for 9 months and 10 days
if the interest is 12%.

2.) Determine the ordinary and exact simple interests on ₱5,000 for the period
from January 15 to June 20, 1993, if the rate of simple interest is 14%.

3.) Determine the exact and ordinary simple interests on ₱1,200 for the period
from January 16 to November 26, 1992, if the rate of interest is 24%.

4.) A man borrows ₱10,000 from a loan firm. The rate of simple interest is 15% but the interest
is to be deducted from the loan at the time the money is borrowed. At the end of one year he has to
pay back ₱10,000. What is the actual rate of interest?

5.) Determine whether years 1982, 1996, 1800 or 2000 a leap year or just an ordinary year is.
6.) Find the total amount on ₱ 10 000 invested at 5% for 75 days using exact interest.

7.) A loan of ₱ 5000 is made for a period of 15 months, at a simple interest rate of
15%, what
future is due at the end of the loan period?

COMPOUND INTEREST - SAMPLE PROBLEMS

1.) If the sum of ₱12,000 is deposited in an account in an earning interest at the rate of 9%
compounded quarterly, what will it become at the end of 8 years?
2.) At a certain interest rate compounded quarterly, ₱1,000 will amount to be ₱4,500 in 15 years.
What is the amount at the end of 10 years?

3.) You deposit ₱600.00 into a savings account. How much money do you have after 3 years if
the account has a 4% interest rate, and the interest is compounded annually?

4.) Mr. Bacani borrowed money from the bank. He received from the bank ₱1842.00 and
promised to repay ₱2000.00 at the end of 10 months. Determine the rate of interest.

5. ) You borrow ₱3500.00 for one year from a friend at an interest rate of 1.5% per month instead of
taking a loan from a bank at a rate of 18% per year. How much lesser you will pay by borrowing the
money from the bank?
1. ) Find the interest on a car ban of P5,000.00 at a rate of 16% for a period of 8 months.

2. ) FInd the amount due on a loan of P600.00 at 15.75% interest after 21 months.

3. )What is the annual interest rate earned by a 33-day T bill with a maturity value of
P1,000.00 that sells for P996.16? (Use 360 days of the year)

4. )If you borrow P3,000 at 14%% simple interest for 10 months, bow much will you owe in 10
month? How much interest will you pay?

5. ) If you deposit P4,000 into an account paying 6% annual interest compounded quarterly. how
much money will be in the account after 5 years?

6. ) If you deposit P6,500 m an account payingg 8% annual interest compounded monthly.


How much money will be in account after 7 years?
7. ) How much money would you need to deposit today at 9% annual interest compounded
monthly to lave P12,000 the account after 6 years?

8. ) If you deposit P 5000 into an account paying 6% annual interest compounded monthly, how long
until there is P8000 in the account?

9. ) A man borrows P 10 000 from a loan firm. The rate of simple interest is 15%, but the interest is
to be deducted from the loan at the time of money is borrowed. At the end of one year he has to pay
back.

10.) If the sum of P 12 000 is deposited in an account earning interest at the rate of 9% compounded
quarterly, what will it become at the end of 8 years?

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