One banker’s year is equivalent to ________________ days?

Related Mcqs:

1. Miss Evilla borrowed money from a bank. She receives from the bank P1,340.00 and promised to pay P1,500.00 at the end of 9 months. Determine the corresponding discount rate or often referred to as the “banker’s discount”?

   A. 13.15 %
   B. 13.32 %
   C. 13.46 %
   D. 13.73 %

2. Miss Calledo deposited P 1,000, P 1,500 and P 2,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 10% per annum. How much is in the account at the end of the 4th year ?

   A. P 4,880.00
   B. P 4,820.00
   C. P 4,860.00
   D. P 4,840.00

3. Mr. Jun Ramos was granted a loan of P20,000 by his employer Excel First Review and Training Center, Inc. with an interest of 6% for 180 days on the principal collected in advance. The corporation would accept a promissory note for P20,000 non-interest for 180 days. If discounted at once, find the proceeds of the note?

   A. P18,000
   B. P18,900
   C. P19,000
   D. P19,100

4. Under ordinary simple interest, how many days in one year ?

   A. 300
   B. 360
   C. 365
   D. 366

5. What refers to the cumulative effect of elapsed time on the money value of an event, based on the earning power of equivalent invested funds capital should or will earn ?

   A. Present worth factor
   B. Interest rate
   C. Time value of money
   D. Yield

6. You borrow P3,500.00 for one year from a friend at an interest rate of 1.5% per month instead of taking a loan from a bank at a rate of 18% per year. How much lesser you will pay by borrowing the money from the bank ?

   A. P 62.44
   B. P44.55
   C. P54.66
   D. P37.56

7. What is the present worth of two P 100 payments at the end of the third year and fourth year? The annual interest rate is 8%?

   A. P 150.56
   B. P 152.88
   C. P 153.89
   D. P 151.09

8. What is the present worth of a P500 annuity starting at the end of the third year and continuing to the end of the fourth year, if the annual interest rate is 10 % ?

   A. P 727.17
   B. P 717.17
   C. P 714.71
   D. P 731.17

9. What is the present worth of a year annuity paying P 3,000.00 at the end of each year, with interest at 8% compounded annually ?

   A. P 7,654.04
   B. P 7,731.29
   C. P 7,420.89
   D. P 7,590.12

10. Shell Philippines, a multinational company, has a total gross income for a particular year of P 50,000,000. The taxable income after taking all deductions except for depletion is P 18,500,000. What is the allowable depletion allowance for that particular year? Take percentage of gross income for oil as 22%?

    A. P 9,358.41
    B. P 9,228.45
    C. P 9,250.00
    D. P 9,308.45