Direction: Answer the following and show your solution.

1. How much interest would be paid on a bank loan of P30,000.00 for 8 months at 12% annual
interest?

Given: solution:

P ₌ 30, 000 I ₌ Prt

r ₌ 12% or 0.12 ₌ (30,000) (0.12) (0.66)

t ₌ 8/12 or 0.66 ₌ 2, 376

2. What is the amount due on P12,000.00 after adding the annual interest of 8% for 3 years?

Given: solution:

P ₌ 12,000 F ₌ P+Prt

r ₌ 8% or 0.08 ₌ 12,000+(12,000) (0.08) (3)

t₌3 ₌ 12,000+2,880

₌14,880

3. If the principal amount is P30,000.00 and the interest will be P3,600.00 after a year, what would
be the future amount?

Given: solution:

P₌ 30,000 F₌ P+Prt

r₌ 12% (3,600) ₌ 30,000+(30,000) (0.12) (1)

t₌ 1 ₌30,000 +3,600

₌33,600

4. Calculate the amount of simple interest on 9000 dollars deposited on interest rate of 5% for 2
years?

Given: Solution:

P₌ 9000 dollars Is₌ Prt

r₌ 5% or 0.05 ₌ (9000) (0.05) (2)

t₌ 2 ₌ 9000 (0.1)

₌ 900

5. A store uses a 40% markup on cost. Find the markup of shoes that sells for P12,000.00.

Solution:

Selling price (S.P)₌ (100+m)% C.P (cost price)

S.P₌ 12,000, m₌ 40

12,000₌ (100+40) %

12,000 ₌ 140%

12,000 ₌ 1.40 ₌ 8,571

12,000

1.40

6. A computer store pays 6 dollars for a computer mouse. The percent of markup is 10%. Find the
mouse’s selling price.

Solution:

Selling price (S.P)₌ (100+m)% C.P (cost price)

6 dollars₌ (100+10) %

6 dollars ₌ (110% or 1.10)

6 dollars ₌ 1.10 ₌ 6.6

1.10

7. Regala Company manufactures beds; in its catalogue, a double bed is priced at P5,000.00 less a
discount of 20%. What will Riva have to pay for the bed she ordered?

8. Athletic shoes that regularly sell for 100 dollars are on sale for 20% off. Find the discount.

9. Maria makes money by commission rates. She gets 15% of everything she sells. If Maria sold 23,000
pesos worth of items this month, what is her salary for the month?

10. Clara Ramos works as a sales clerk. She is paid a salary of P3,000.00 a week plus 2% commission
on sales over 4,000. Find her Gross pay for a week in which her sales amounts to P9,500.00.