Republic of the Philippines
Department of Education
CARAGA REGION
SCHOOLS DIVISION OF SURIGAO DEL
SUR
Lanuza District
PAKWAN INTEGRATED SCHOOL
SUMMATIVE TEST NO. 1
GENERAL MATHEMATICS
Name: ___________________________________ Date: _____________
Score: __________________
Direction: Write the letter of the correct answer on the space provided before each number.
If possible, show your complete solutions on a separate sheet of paper.
______1. What is the term for interest rate charged by the lender or rate of increase of the
investment?
a. interest b. term c. simple interest d. rate
______2. What is the term for a person/institution who owes the money or avails of the funds from
lender?
a. debtor b. creditor c. financier d. customer
______3. All of the following does not refer to a person who invests the money except for:
a. borrower b. lender c. debtor d. mortgagor
______4. All of the following refers to the amount of money added to invested amount except for:
a. the amount paid or earned for the use of money
b. the interest that is computed on the principal and then added to it
c. the interest computed on the principal and also on the accumulated past interest
d. the amount after specific year/s that the lender receives from the borrower on
maturity date
______5. Which of the following formula is not considered in finding values under annual simple
interest?
a. P = Irt b. P = I / r t c. r = I / P t d. I = P r t
______6. What is the maturity value if one million pesos is deposited in a bank at an annual
simple
interest of 0.25% after 5 years?
a. P 1,021,500 b. P 1,012,500 c. P 1,015,200 d. P 1,021,200
______7. What are the amounts of interest and maturity value of a loan for P 25,000 at 12%
simple
interest for 5 years, respectively?
a. 15000, 40000 b. 40000, 15000 c. 15000, 25000 d. 25000,
15000
______8. Calculate the maturity of an investment after six months with a principal of $10,000 at a
simple interest rate of 3.5%?
a. P 10,500 b. P 10,175 c. P 11,000 d. none of these
______9. What do you call a person (or institution) who invest the money or makes the funds
available?
a. lender b. borrower c. banker d. none of these
______10. What do you call a person (or institution) who owes the money or avails of the funds?
a. lender b. borrower c. banker d. none of these.
______11. If P 320,000 is invested for 5 years at 8% compounded quarterly, find the compound
interest.
a. P475,503.17 b. P420,503.00 c. P412,503.12 d. P410,000.00
______12. Maria decides to participate in an investment that yields 3.5% annual interest. If she
invested ₱10, 000.00, how much will her investment after six months?
a. ₱ 10,500.00 b. ₱ 10,175.00 c. ₱ 11,000.00 d. ₱ 175.00
______13. If P320, 000 is invested for 5 years at 8% compounded quarterly, find the maturity
value.
a. ₱ 475, 503.17 b. ₱ 420, 503.00 c. ₱ 412, 503.12 d. ₱ 410, 000.00
______14. If the conversion is quarterly, this means the nominal rate is compounded every:
a. 1 month b. 2 months c. 3 months d. 4 months