Ubihan High School

Ubihan, Meycauayan, Bulacan

Second Quarter Exam
General Mathematics

Direction: Read and examine each question carefully. Write only the letter of the correct answer. If
the answer is not in the choices, write W.

1. Which of the following refers to amount after years; that the lender receives from the borrower on
the maturity date?
a. principal b. maturity value c. simple interest d. compound interest

2. The person (or institution) that invests the money or makes the funds available is called ______.
a. lender b. borrower c. principal d. interest

3. Which is the correct formula to find the simple annual interest?

a. F = P(1+rt) b. I = Prt c. I = P – F d. F = P(1+r)t

4. What do you call to the date on which the money borrowed or loan is to be completely repaid?
a. maturity date b. loan date c. time or term d. rate

5. What do you call to the person (or institution) who owes the money or avails of the funds from the
lender?
a. lender b. borrower c. principal d. interest

6. The amount of money borrowed or invested on the origin date is called ______.
a. principal b. maturity value c. simple interest d. compound interest

7. The amount paid or earned for the use of money is called ______.
a. rate b. principal c. interest d. future value

8. Which of the following is true in simple interest if all else are equal?
a. the smaller the maturity value, the greater the interest rate
b. the higher the rate, the higher the interest
c. the longer the time, the smaller is the interest
d. the higher the principal, the lower the interest

9. All of the following are true EXCEPT

a. Simple and compound interest are equal in the first time of charged.
b. Simple interest remains constant throughout the investment term.
c. In compound interest, charged is being rolled-over and reinvested with the principal amount.
d. Compound interest charged is always higher at any given time or term.

10. One way both to find the interest charged in simple and compound interest is _____.
a. add the future value and principal
b. multiply the interest rate, principal and time
c. find the difference between the future value and principal
d. divide the future value by principal then add the time

11. In which given is the compound interest higher than the simple interest?
I. P = ₱1,000, r = 20% annually, t = 2 years
II. P = ₱2,000, r = 0.5% annually, t = 5 years

a. I only b. II only c. both I and II d. neither I nor II

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12. Which formula can be used to find the simple annual future value?
a. F = P(1+rt) b. F = Prt c. F = P – I d. F = P(1+r)t
For numbers 13 – 20. Complete the table below by finding the unknown.

Principal Rate (r) Time Simple Compound Simple Future Compound

(P) (t) Interest (IS) Interest (IC) Value Future Value
3%
P1,000 4 ( 13 ) ( 14 ) ( 15 ) ( 16 )
annually
12%
( 17 ) 8.5 P17,500 ( 18 ) ( 19 ) ( 20 )
annually

13. a. P120.00 b. P360.00 c. P280.00 d. P940.00

14. a. P116.32 b. P125.51 c. P186.19 d. P244.67

15. a. P1,120.00 b. P1,360.00 c. P1,280.00 d. P1,940.00

16. a. P1,116.32 b. P1,125.51 c. P1,186.19 d. P244.67

17. a. P17,014.08 b. P17,097.22 c. P17,135.72 d. P17,156.86

18. a. P27,581.20 b. P27,614.38 c. P27,799.49 d. P27,899.54

19. a. P31,953.22 b. P34,656.86 c. P37,298.08 d. P40,771.72

20. a. P42,289.12 b. P44,956.35 c. P46,195.61 d. P48,837.29

21. If an entrepreneur applies for a loan amounting to P450,000 in a bank, the simple interest of which is
P75,000 for 3 years, what interest rate is being charged?
a. 5.5556% b. 13.7774% c. 9.2225% d. 2.6665%

21. How long will a principal earn an interest equal to half of it at 5% simple interest?
a. 3 years b. 5 years c. 10 years d. 15 years

22. Angel deposited P30,000 in a bank that pays 0.5% simple interest. How much will be her money
after 6 years?
a. P30,900 b. P27,300 c. P36,000 d. P23,700

23. Nora borrowed an amount of P40 000 which she paid with an interest of P2,000 at the end
of 3 years. At what nominal rate compounded semi-annually was it invested?
a. 1.63% b. 2.75% c. 3.08% d. 4.51%

24. Mark borrows P150,000 and promises to pay the principal and interest at 9% compounded monthly.
How much must he repay after 5 years?
a. P168,261.17 b. P183,055.37 c. P221,106.84 d. P234,852.15

25. Suppose that you have P80,000. You decided to deposit it on a bank and will not withdraw
from it for 10 years. A bank offers two types of compound interest accounts. The first account
offers 6% interest compounded monthly. The second account offers 6.5% interest compounded
semi-annually. Which account will you choose if you want your money to earn more?
a. The 6% interest compounded monthly c. I will divide my money and invest on both
b. The 6.5% interest compounded semi-annually d. neither of the two will I invest

26. How much should Kaye set aside and invest in a fund earning 2% compounded quarterly if she
needs P75,000 in 15 months?
a. P68,235.07 b. P70,656.31 c. P73,152.80 d. P76,314.29

27. How many years will it take P4,000 to accumulate to P5,000 in a bank savings account

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at 5.5% compounded monthly?
a. 4.07 b. 6.67 c. 8.93 d. 10

28. What do you call to the payment scheme in which payments by installment are done periodically,
and in equal amounts?
a. interest b. frequency of interval c. payment interval d. annuity

29. In this type of annuity, the payment interval is the same as the interest period.
a. simple annuity b. general annuity c. annuity due d. deferred annuity

30. The annuity where the payment interval is not the same as the interest period is called _____.
a. simple annuity b. general annuity c. annuity due d. deferred annuity

31. A type of annuity in which the payments are made at the end of each payment interval is called ___
a. simple annuity b. general annuity c. annuity due d. deferred annuity

32. In an installment payment of an appliance of P2,000 every quarter of the year for 6 months, what is
the payment interval?
a. 1 month b. 3 months d. 4 months d. 6 months

33. Which of the following illustrates a general annuity?

I. monthly installment payment of a car, lot or house with an interest rate that is compounded annually
II. paying a debt semi-annually when the interest is compounded monthly

a. I only b. II only c. both I and II d. neither I nor II

34. What is the main difference between simple annuity and general annuity?
a. the payment interval is the same as compound interest rate
b. the payment interval is not the same as compound interest rate
c. the general annuity produced higher interest than the simple annuity
d. the simple annuity produced higher interest than the general annuity

For numbers 35-36. Mrs. Remoto would like to save P3,000 at the end of each month, for six months, in
a fund that gives 9% compounded monthly.

35. What is the interest rate per period in the above situation?
a. 0.75% b. 1.5% c. 1.25% d. 9%

36. What is the total number of payments that Mrs. Remoto have?
a. 18,000 b. 6 c. 12 d. 4

For numbers 37-38. In order to save for her high school graduation, Marie decided to save P500 at
the end of each month in 6 years where the bank pays 2.25% compounded monthly.

37. How much will her money be at the end of 6 years?

a. ₱21,565.72 b. ₱32,988.23 c. ₱38,504.57 d. ₱47,294.41

38. What is the present value of all the regular payments of Marie?
a. ₱19,782.26 b. ₱27,511.09 c. ₱30,593.94 d. ₱33,646.30

39. Paolo borrowed P150,000. He agrees to pay the principal plus interest by paying an equal amount of
money quarterly for 3 years. What should be his quarterly payment if interest is 2.8% compounded
monthly?
a. ₱10,381.84 b. ₱11,732.90 c. ₱12,690.39 d. ₱13,077.36

40. Mr. Ribaya paid P200,000 as down payment for a car. The remaining amount is to be settled by
paying P15,000 at the end of each month for 5 years. If interest is 10.5% compounded monthly, what is
the cash price of his car?
a. ₱697,872.41 b. ₱897,872.41 c. ₱934,872.41 d. ₱976,872.41
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