LEARNING ACTIVITY:

SUMMARY ANSWER

A. Simple Interest

1. He must repay Php 11,650

2. Php 10,711.28

3. Php 6,884.88

4. in Actual time = Php 13, 895.94

in Approximate time = Php 13,871.05

B. Simple Discount

1. Mr. Patdo received Php 14,481.69

2. 1.294498382 ~ 1.29 ~ 1
year and 2 months

3. Php 22,662.48
ASSIGNMENT: SUMMARY ANSWER

A. Simple Interest

1. Php 13,343.75

2. in Actual time = Php 9,075.33

in Approximate time = Php 9,078.75

3. Php 19,345.09
B. Simple Discount

1. He will ask for Php

16,512.55 if he needs Php
12,500 cash.

2. 0.017356475 ~ 0.02 or
2%

3. D = Php 8,502.38 P = F-
D, so the present value now
is Php 7,897.62
I. EVALUATION
For numbers 1 - 10: Read each item carefully. Write the CAPITAL LETTER of the correct
answer on the space before each number. If your answer is not on the given choices, write letter
“E”. (20points)
C 1. In what time will ₱650 double itself at the rate of 5% simple interest?
A. 10 years B. 15 years C. 20 years D. 25 years
C 2. Three months after borrowing money, Elijah pays on interest of ₱270. How much did
he borrow if the simple interest rate is 5 ½%?
A. ₱19,366.36 B. ₱19, 636.36 C. ₱19, 636.63 D. ₱19, 666.36
B 3. Matt borrowed ₱15, 600 for 2 years and 8 months and paid ₱2, 150 interests. What
was the simple interest rate?
A. 5.16% B. 5.17% C. 5.18% D. 5.19%
C 4. Megan borrowed ₱12, 500 from a bank at 9 ½% simple interest for 3 years and 6
months. How much did she pay back the bank?
A. ₱4, 156.25 B. ₱8, 343.75 C. ₱16, 656.25 D. ₱20, 843.75
D 5. Find the ordinary interest on ₱3, 450 for 108 days at 4 2/3% simple interest.
A. ₱47.46 B. ₱47.64 C. ₱43.80 D. ₱48.30
A 6. Accumulate ₱2, 050 for 6 years at 4 3/8% simple interest.
A. ₱538.13 B. ₱2, 588.13 C. ₱3, 126.25 D. ₱3, 664.75
B 7. Determine the present value of a 7-month 12% simple interest loan if its final amount
is ₱25,268.82.
A. ₱23, 516.72 B. ₱23, 615.72 C. ₱1, 653.10 D. ₱1, 356.10
C 8. Find the actual time between April 1, 2015 to March 18, 2016.
A. 350 days B. 351 days C. 352 days D. 353 days
D 9. Find the interest on ₱23, 250 at 5% simple interest from August 9, 2014 to May 18,
2015.
A. ₱910.265 B. ₱910.526 C. ₱910.562 D. ₱910.625
A 10. How much exact interest should Reagan pay for a loan of ₱8,000 at 6% he borrowed
in April 10, 2015 if he promised to pay everything on October 31, 2015.
A. ₱268.27 B. ₱286.27 C. ₱8, 268.27 D. ₱8, 286.27

For numbers 11 – 20: Match the following phrases in column A to the words in column B. Write
your answers on the space provided. (10 points)
Column A Column B
K 11. It refers to the term of an investment or how long it will A. Actual Time
take a certain sum of money. B. Amount
F 12.The amount charged for money deposited/borrowed. C. Approximate Time
A 13. It is the exact number of days in any given month. D. Discounting
D 14. It is the process of determining the present value of any E. Exact Interest
amount due in the future. F. Interest
I 15. It is called the amount of money that the borrower receives. G. Ordinary Interest
B 16.The sum of principal and interest. \ H. Principal
C 17. All the months within a year contain 30 days I. Proceeds
J 18. The amount of money charged per unit J. Rate
H 19.It is the amount deposited or borrowed K. Simple Interest
E 20. The interest computed with a denominator of 365. L. Time