Related Mcqs:

1. A young engineer borrowed P 10,000 at 12% interest and paid P 2,000 per annum for the last 4 years. What does he have to pay at the end of the fifth year in order to pay off his loan ?

   A. P 6,999.39
   B. P 6,292.93
   C. P 6,222.39
   D. P 6,922.93

2. The exact simple interest of P5,000 invested from June 21, 1995 to December 25, 1995 is P100. What is the rate of interest ?

   A. 3.90 %
   B. 3.92 %
   C. 3.95 %
   D. 3.98 %

3. A loan of P5,000 is made for a period of 15 months, at a simple interest rate of 15%, what future amount is due at the end of the loan period ?

   A. 5,937.50
   B. 5,873.20
   C. 5,712.40
   D. 5,690.12

4. A college freshman borrowed P2,000 from a bank for his tuition fee and promised to pay the amount for one year. He received only the amount of P1,920 after the bank collected the advance interest of P80.00. What was the rate of discount ?

   A. 3.67 %
   B. 4.00 %
   C. 4.15 %
   D. 4.25 %

5. A feasibility study shows that a fixed capital investment of P10,000,000 is required for a proposed construction firm and an estimated working capital of P2,000,000. Annual depreciation is estimated to be10% of the fixed capital investment. Determine the rate of return on the total investment if the annual profit is P3,500,000?

   A. 28.33 %
   B. 29.17 %
   C. 30.12 %
   D. 30.78 %

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. Mr. Bacani borrowed money from the bank. He received from the bank P1,842 and promised to repay P2,000 at the end of 10 months. Determine the rate of simple interest?

   A. 12.19 %
   B. 12.03 %
   C. 11.54 %
   D. 10.29 %

8. A loan for P50,000 is to be paid in 3 years at the amount of P65,000. What is the effective rate of money ?

   A. 9.01 %
   B. 9.14 %
   C. 9.31 %
   D. 9.41 %

9. A student plans to deposit P1,500 in the bank now and another P3,000 for the next 2 years. If he plans to withdraw P5,000 three years from after his last deposit for the purpose of buying shoes, what will be the amount of money left in the bank after one year of his withdrawal? Effective annual interest rate is 10% ?

   A. P1,549.64
   B. P1,459.64
   C. P1,345.98
   D. P1,945.64

10. A firm borrows P2,000 for 6 years at 8%. At the end of 6 years, it renews the loan for the amount due plus P2,000 more for 2 years at 8%. What is the lump sum due ?

    A. P 3,260.34
    B. P 3,280.34
    C. P 3,270.34
    D. P 3,250.34