Second Quarterly Examination

GENERAL MATHEMATICS
S.Y. 2022-2023

NAME: . SECTION: .

Test I. A. Multiple Choice.

Direction: Read and analyze the following questions. Encircle the letter of the correct answer.

1. The person or institution who invest money or makes the funds available.
a. borrower or debtor c. lender or creditor
b. collector d. accountant

2. A person or institution who owes the money or avails the funds from the lender.
a. borrower or debtor c. lender or creditor
b. collector d. accountant

3. A date in which money is received by the borrower.

a. due date c. first date
b. origin or loan date d. repayment date or maturity date

4. Date on which the money borrowed or loan is to be completely repaid.

a. due date c. first date
b. origin or loan date d. repayment date or maturity date
5. Amount of time in years the money is borrowed or invested.
a. Interest c. Rate
b. Principal d. Time

6. Amount of money borrowed or invested on the origin date.

a. Interest c. Rate
b. Principal d. Time

7. Usually in percent, charged by the lender. The increase of the investment.

a. Interest c. Rate
b. Principal d. Time

8. It is the amount paid or earned for the use of money.

a. Interest c. Rate
b. Principal d. Time

9. An interest that is computed on the principal and then added to it.

a. common interest c. compound interest
b. simple interest d. maturity value

10. An interest that is computed on the principal and also on the accumulated past interest.
a. common interest c. compound interest
b. simple interest d. maturity value

11. It is the amount after t years that the lender receives from the borrower on the maturity date.
a. common interest c. compound interest
 b. simple interest d. maturity value

12. A bank offers 0.25% annual simple interest rate for a particular deposit. How much interest will be
earned if 1 million pesos is deposited in this savings account for 1 year?
a. 3,000 pesos b. 2,500 pesos c. 2,000 pesos d.3,500 pesos

13. How long will 75,000 pesos principal amount earn an interest equal to half of it at 5% simple interest?
a. 7 years b. 8 years c. 9 years d. 10 years

14. When invested at an annual interest rate of 7%, the amount earned is 13,500 pesos of simple interest
in 2 years. How much money was originally invested?
a. 96,428.57 pesos b. 95,245.12 pesos c. 92,354.89 pesos d. 97,543.23 pesos

15. If an entrepreneur applies for a loan amounting to 1 million pesos in a bank, the simple interest of which
is 143,240 for 4 years, what interest rate is being charged?
a. 2.16% b. 3.23% c. 3.58% d. 2.94%

16. Find the maturity value if 10,000 pesos is compounded annually at an interest rate of 2% in 5years.
a. 12,034.23 pesos b. 11,456.89 pesos c. 11,040.81 pesos d. 10,976.52 pesos

17. Find the compound interest if 70,000 pesos is compounded annually at 5% rate for 8 years and has a
future value equivalent to 26,000 pesos.
a. 44,000 pesos b. 43,000 pesos c. 42,000 pesos d. 41,000 pesos

18. Yaya Bonita borrowed 100,000 pesos at 8% compounded annually. How much will she be paying after
2 years?
a.107,348 pesos b. 116,640 pesos c. 108,640 pesos d. 101,723 pesos

19. How much money must be invested to obtain the amount of 150,000 pesos in 2 years if the money
earns at 10.5% compounded annually?
a. 122,847.61pesos b. 123,847.61pesos c. 124,847.61pesos d.125,847.61pesos

20. Fredrin borrows 50,000 pesos and promises to pay the principal and interest at 12% compounded
monthly. How much must he repay after 6 years?
a. 102,354.97pesos b. 101,354.97pesos c. 100,354.97pesos d. 99,354.97pesos

21. Joy lends 50,000 pesos and promises to pay the principal and interest at 12% compounded quarterly.
How much must she repay after 6 years?
a. 123,123.01pesos b. 101,639.71pesos c. 123,875.89pesos d.101,235.56pesos

22. Amon lends 45,000 pesos for 3years at 5% compounded semi-annually. Find the future value of this
amount.
a. 50,093.11pesos b. 51,093.12pesos c. 52,093.13pesos d. 53,093.14pesos

23. Find the present value of 50,000 pesos due in 4years if money is invested at 12% compounded semi-
annually.
a. 31,370.76 pesos b. 31,370.79 pesos c. 31,370.65 pesos d. 31,370,370.62 pesos

24. What is the present value of 25,000 pesos due in 2 years and 6months if money is worth 10%
compounded quarterly?
a. 19,529.96 pesos b. 19,323.08 pesos c. 19,238.98 pesos d. 19,346.86 pesos

25. Lolita aims to have her investment grow to 500,000 pesos in 4 years. How much should she invest in
an account that pays 5% compounded annually?
a. 411,351.24pesos b.412,351.24pesos c.413,351.24pesos d. 414,351.24pesos
Test II. Fill the Table
Direction: Find the unknown principal P, rate r, time t, interest I by completing the table.
Principal (P) Rate (r) Time (t) Interest (I)
P 500,000 10% 4 years 26.)
P 250,000 27.) 2 years P 5,000
28.) 5% 6 years P 30,000
29.) 1.5% 8 years P 10,000
P 30,000 2% 30.) P 1,500

Test III. Solving

Direction: Solve the following problems. Show your solution.
1. Find the maturity value and interest if 100,000 pesos is invested in 5% compounded annually for
5 years.
Given: P = 100,000 r = 5% or 0.05 t = 5 years
Find: a.) maturity value
b.) compound interest

2. Find the simple interest on a loan of 120,000 pesos if the loan is given at a rate of 15% and is
due in 3 years.

3. At what simple interest rate per annum will 20,000 pesos accumulate to 25,000 pesos in 3
years?
ANSWER KEY

1. C
2. A
3. B
4. D
5. D
6. B
7. C
8. A
9. B
10. C
11. D
12. B
13. D
14. A
15. C
16. C
17. A
18. B
19. A
20. A
21. B
22. C
23. D
24. A
25. A
26.