Business Mathematics (1)

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Question 1. A loan for 365 days was repaid by a sum of RM7368.95.If the loan was charged a simple interest rate of 6% per annum, find the original amount.

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Question 2. RM1 999 is invested for a certain period. The simple interest earned is RM200.Find this period if the simple interest rate offered is 10% per annum.

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Question 3. The price of the condo is expected to increase by 6% every year.If the condo now is offered at RM300 000 find the estimated price of the house after 4 years.

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Question 4. A savings account was opened 180 days ago.Now the account is worth RM9009.Find the original investment if the account offers 6% per annum simple interest.

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