DANAO NHS │ BUSINESS MATHEMATICS │ WEEKLY TEST │ Module 9
Name: _______________________________________ Friday 7:15am to 9:15 am
MULTIPLE CHOICE
Direction: Encircle the letter of the correct answer and show your solutions for the word
problems at the back of the answer sheet.
1. What is described as the professional support rendered to aid customers?
a. utilities b. foundation c. services d. product
2. How many days are used when ordinary interest is applied?
a. 360 b. 362 c. 364 d. 365
3. What is result when the principal amount is multiplied by the interest rate
and the number of years?
a. compound interest b. simple interest
c. diminishing interest d. complicated interest
4. What is defined as the charge for the privilege of borrowing money?
a. interest b. withdrawal c. deposit d. credit
5. What is the amount due and payable to the holder of a financial obligation
as of the maturity date of the obligation?
a. principal amount b. monthly amortization
c. mortgage d. maturity value
6. In computing for the interest, which among these variables is not included?
a. principal amount b. rate c. paid loan d. time
7. What is described as a loan, secured by a collateral, that the borrower is
obliged to pay at specified terms?
a. amortization b. loan c. deposit d. mortgage
8. It is defined as a financial term that means money held at a bank. Also is a transaction
involving a transfer of money to another party for safekeeping.
a. loan b. deposit c. principal amount d. amortization
9. What is the process of diminishing the amount or total in regular lesser amounts?
a. mortgage b. deposit c. amortization d. loan
10. What is defined as the money (or property) given with the promise that it will be paid back
in the future, usually with interest?
a. deposit b. collateral c. loan d. promissory note
11. Mr. Rivera wanted to start an online business on a loan of P 1000,000.00. How much interest
will he have to be pay on a loan for two years at a simple interest rate of 6.5% per year?
a. ₱10,000.00 b. ₱11,000.00 c. ₱12,000.00 d. ₱13,000.00
12. Pedro Masunurin wanted to purchase a car. The bank offered him a car loan amounting to
₱1,500,000 payable for 5 years at a simple interest rate of 8.2% per year. What is the maturity
value of the loan?
a. ₱2,292,500.00 b. ₱2,115,000.00 c. ₱2,194,700.00 d. ₱2,195,800.00
13. Buboy deposited P300,000.00 in the bank. What is the maturity value of Buboy’s money in
three years if the bank offers a simple interest of 1% per annum?
a. ₱309,000.00 b. ₱312,500.00 c. ₱314,500.00 d.
₱315,500.00
14. If a house is sold for P3,000,000.00 and the bank requires 10% down
payment, what is the amount of the mortgage?
a. ₱2,500,000.00 b. ₱2,600,000.00 c. ₱2,700,000.00 d. ₱2,800,000.00
15. Using exact interest, what is the amount due (maturity value) on P40,000.00
invested at 9% simple interest for 150 days?
a. ₱41,639.73 b. ₱41,739.73 c. ₱41,479.45 d. ₱41,939.73