MATHEMATICS 11

Quarter 2

Name: _________________________________________Score: _____________________

Year and Section: ________________________________ Date: _____________________

I. Directions: Read each statement carefully. Encircle the correct answer.

1. This refers to the amount paid or earned for the use of money.
A. Conversion period C. Principal B. Interest D. Rate
2. Thirty months is equivalent to ______.
A. 2.5 years C. 3 years B. 2.75 years D. 3.25 years
3. Date on which the money borrowed or loaned is to be completely repaid.
A. Conversion period C. Maturity date B. Loan date D. Origin date
4.What is the formula in computing the simple interest on a given financial transaction?
Pr rt
A. 𝐼s = 𝑃𝑟𝑡 B. 𝐼s = 𝑃𝑟2𝑡 C. 𝐼s = D. 𝐼s =
t P
5. What is the total number of conversion periods when a certain amount is borrowed at 10% compounded
monthly for 5 years?
A. 12 B. 24 C. 50 D. 60
6. Date on which the money borrowed or loaned is to be completely repaid.
A. Conversion period C. Maturity date B. Loan date D. Origin date
7. This refers to an individual or entity that owes money to someone
A. Borrower or debtor C. Principal B. Interest D. Lender
8. How much was the interest if Henry borrowed ₱45,000.00 and paid a total of ₱55,500.00 at the end of the
term?
A. ₱10,500.00 B. ₱11,500.00 C. ₱45,000.00 D. ₱100,500.00
9. How much is the simple interest on this financial transaction, P = ₱5,000.00, r = 6%, and t = 2 years?
A. ₱120.00 B. ₱1,200.00 C. ₱600.00 D. ₱6,000.00
10. Which of the following is the quantity of money acquired or invested on the starting date of investment.
A. Conversion period B. Principal C. Interest D. Rate
11. Refers to the amount a lender charges for the use of money usually in percent.
A. Conversion period B. Principal C. Interest D. Rate
12. It refers to normally utilized by banks in calculating interest for long term investments and credits, for
example, investment account and time deposits.
A. Simple Interests B. Compound interest C. Creditor D. Lender
13. Which of the following is the formula for Time in Compound Interest?
r 1/n r m/n
A. log ¿ ¿ B. ¿1/n – 1] C. (1+ ) -1 D. ( ) -1
m m
14. Refers to the number of periods in a year the interest will be compounded.
A. Periodic rate B. Conversion period C. Compound amount D. nominal rate
 1
15. 3 % is equivalent to ______.
5
A. 0.0032 C. 0.32 B. 0.032 D. 3.2

II. Directions: Write TRUE if the statement is correct and FALSE if it is wrong in space provided.

_____1. The creditor is an individual that owes money.

_____2. Maturity date refers to the date on which a borrower's final loan payment is due.
_____3. Principal is referred to quantity of money acquired or invested on the starting date of investment.
_____4. The Creditor is an individual or entity that owes money to a creditor.
_____5. Rate is the financial charge for the benefit of acquiring cash, normally conveyed as a yearly rate.
_____6. Conversion period (m) refers to the number of periods in a year the interest will be compounded.
_____7. Quarterly – it is computation denotes once a year.
_____8. Compound Interest - interest gained on both the principal and any interest that has been earned in
the past.
_____9. Periodic rate (i) is the total number of times interest is computed for the entire term of the
investment or loan.
_____10. Term (t) - is a period of duration, time or occurrence, in relation to an event

III. Solve what is asked in each item. Write your complete solutions and answers on a whole sheet of
paper.

1. Rhea deposited ₱7,500.00 for two years into a money market account. At the end of two years, she
had a total of ₱8,700.00. What rate of interest did she receive?

2. A certain amount of money was invested for one year at a rate of 7.5%. At the end of that year, it had
earned ₱675.00. How much money was invested?

3. Jason borrowed ₱3,200.00 at a rate of simple interest of 8% for 3 years. What will be the maturity value
of Jason’s loan?

4. Find the final or compound amount or maturity (future) value of ₱15,900.00 at 5.5% interest
compounded annually for 18 months.

5. Find the interest on ₱25,750.00 for 3 years at 8% compounded quarterly.

Prepared by:
JUBETH L. ESPIRITU
Math Teacher