2ndmonthly Exam - GM

UIC-SHS DEPARTMENT NAME: _______________________________
SECOND PERIODICAL TEST SECTION: ____________________________

GENERAL MATH SCORE:
MR. ALENJUN MENSIS
MS. JONAVI LUYONG ________ / ______
GENERAL INSTRUCTIONS
1. Read all instructions carefully.
2. Shade the box corresponding to the letter of your answer.
3. Do not leave any item unanswered.
4. If you wish to change your answer, erase the first answer completely and shade your new
answer as prescribed.
5. Cheating will merit failure in this examination besides other disciplinary actions.
I. Multiple Choice: Read the statements carefully and choose the letter of the correct answer.
1. __________ is computed using either actual or approximate time.
a. actual time c. compound interest
b. simple interest d. rate
2. It is the payment for the use of borrowed money or the amount earned on invested money.
a. principal b. rate c. interest d. time
3. It is the amount borrowed or invested.
4. The number of years for which the money is borrowed or invested.
5. _________ is an interest computed every conversion period whose principal amount includes the
interest earned every end of the conversion period.
a. Simple interest c. Ordinary interest
b. Exact interest d. Compound interest
6. The sum of the principal and the interest earned within the time.
a. interest b. rate c. Final amount d. Principal
7. It is an interest computed every conversion period whose principal amount includes the interest
earned every end of the conversion period.
a. Actual time c. Compound interest
b. Simple interest d. Rate
8. How will you get the total number of conversion periods?
a. By adding the conversion period and the time
b. By subtracting the conversion period and the time
c. By multiplying the conversion period and the time
d. By dividing the conversion period and the time
For items 9-10
9. At what simple interest rate was ₱ 17, 350 invested if it earned ₱ 1,025 interests for 3 years?
a. 0.02 % b. 1.97 % c. 19.7 % d. 197%
10. How much would be the money at the end of 3 years?
a. ₱18,375 b. ₱18,300 c. ₱16,325 d. ₱18,350
11. Grace borrowed ₱ 34,000 and paid ₱ 1,860 interest for 9 months. What was the rate of interest?
a. 7.29 % b. 72.9 % c. 0.072 % d. 0.72 %
For items 12-14
12. Bertha deposited ₱ 1000 into a retirement account when she was 18. How much will Bertha
have in her account when she will be 50 years old at a yearly simple interest rate of 7.5%?
a. ₱ 3,400 b. ₱ 34,000 c. ₱ 2,400 d. ₱ 24,000
13. How much would be the interest of her money?
a. ₱1,400 b. ₱ 2,400 c. ₱ 3,400 d. ₱ 4,400
14. At what age would Bertha earn ₱1 400 simple interest of her money?
a. 37 years old b. 38 years old c. 39 years old d. 40 years old
For item 15-16
How much interest will Maria earn if he deposits an amount of ₱108 500 at 5% interest rate for 250
days and decided to deposit it at
15. Ordinary interest
a. ₱ 37,670.36 b. ₱ 3,767.36 c. ₱ 3,000.00 d. ₱ 3,700.00
16. Exact interest
a. ₱ 3,000.00 b. ₱ 3, 715.75 c. ₱ 3,517.57 d. ₱ 37,715.75
17. How will you solve for the compound interest?
a. By using the formula 𝐼 = 𝑃[(1 + 𝑖)𝑛 ]
b. By using the formula 𝐼 = 𝑃[(1 + 𝑖)𝑛 − 1]
c. By using the formula𝐼 = 𝑃(1 + 𝑖) − 𝑃
d. By using the formula𝐼 = 𝑃(1 + 𝑖)
18. Which of the following is the formula in finding the simple interest?
a. 𝐼 = 𝑃𝑟𝑇 c. 𝐹 = 𝑃 + 𝐼
b. 𝐼 = 𝑃(1 + 𝑖) − 𝑃 d. 𝐼 = 𝑃𝑇
19. How will you solve for an ordinary interest using actual time?
𝑎𝑐𝑡𝑢𝑎𝑙⁡𝑡𝑖𝑚𝑒 𝑎𝑐𝑡𝑢𝑎𝑙⁡𝑡𝑖𝑚𝑒
a. 𝐼𝑂(𝑎𝑐𝑡) = Pr⁡( 365
) c.⁡𝐼𝑂(𝑎𝑐𝑡) = Pr⁡( 360
)
𝑎𝑐𝑡𝑢𝑎𝑙⁡𝑡𝑖𝑚𝑒 𝑎𝑐𝑡𝑢𝑎𝑙⁡𝑡𝑖𝑚𝑒
b. 𝐼𝑂(𝑎𝑐𝑡) = Pr ( 365
)+ 𝐹 d.⁡𝐼𝑂(𝑎𝑐𝑡) = Pr (
360
)+ 𝐹
20. If you start a bank account with ₱ 10,000 and your bank compounds the interest quarterly at an
interest rate of 8%. Which of the following equations will you use to compute for your money at
the year’s end?
.08 4(1)
a. 𝐹 = 10,000(1 + ) c. 𝐹 = 10,000(1 + .08)4(1)
4
4 4(1)
b. 𝐹 = 10,000 + (.08)4 d. 𝐹 = 10,000(1 +
.08
)
II. Problem solving: Read and analyze each problem. Answer it by following the rubric given.
1) Ann invested ₱250 000 at 11.75% simple interest from April 5, 2015 to November 25, 2015
agreeing on an exact interest scheme. Her brother Nico invested the same amount for the
same duration at 11.5% but agreed on an ordinary interest scheme. Who among Mary Ann
and Nico will get a better result? How much is the difference? (use actual number of days)
____Correct given (1pt)× 2
____Correct solution (2pt)
____Correct answer (2pt)× 2
2) Alen has three options in investing ₱12 345 678 for 10 years.
Option 1: Metro Bank at 8.5% simple interest
Option 2: BDO at 7.25% compounded monthly
Option 3: PNB at 7.45% compounded quarterly
Which option will Alen choose? Justify your answer.
____Correct given (1pt)× 2
____Correct solution (2pt)× 4
____Final answer (2pt)

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UIC-SHS DEPARTMENT NAME: _______________________________

SECOND PERIODICAL TEST SECTION: ____________________________

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