EXERCISE 1.6 Solve the following: 1. Accumulate P300,000 for 8 years at 7% simple interest. 2. What final amount would Raziel have, if she deposited P90,000 for 3 years and 6 months at 9.5% simple interest? 3. How much final amount would Carmencita receives if she invests P80,200 for 4 years at 6% simple interest. 4. If P69,300 borrowed at a annual interest rate of 11% has to be paid in 2 years and 3 months, find the amount due. 5. If a person borrowed P400,000 from a bank charging 12% simple interest, how much would he pay at the end of 4 years? 6. Gary Acierto borrows P19,000 with simple interest at 8% per month, what payment at the end of 14 months will settle his obligation? 7. Caren Rodriguez borrows P15,400 with simple interest at 4% per month. What payment at the end of 11 months could settle her obligation? 8. Michael Nieva borrowed P36,800 from a bank at 8.7% simple interest for 3 years and 9 months. How much did Michael pay back the bank? 9. Francis Nicolas borrows P70,100 on June 26,2014, and repays the loan on June 26, 2017 with interest at 5 3/8%. Find the amount repaid. 10. Windell Esteban paid an interest of P10,200 on a loan for 3 years at 7% simple interest. How much did he pay at the end of 3 years? SECTION EXERCISE 1.7 Solve the following: 1. If the simple interest on P10,800 is P600 after 10 months, find the rate? 2. Find the rate of interest if the interest earned was P300, the principal was P8,000 and the term was 8 months. 3. Determine the simple interest rate if an investment of P100,000 accumulates to P110,000 in 36 months. 4. If P4,200, is the interest in investing P50,000 for 4 years, find the rate of interest. 5. What is the rate of interest on a 15-month loan for P26,000 if the interest on the loan is P1,200. 6. At what rate must P11,300 be invested in order to accumulate to P13.100 in 300 days? 7. If P38,800 is the present value of P41,000 which due at the end of 1 year and 9 months, find the simple interest rate. 8. A man borrowed P40,000 for 3 years and 3 months. At the end of the year he returned P47,000 for principal plus interest. Find the rate of interest. 9. A simple interest rate per quarter is charged on a P70,800 loan if the debt is settled by a payment of P75,000 at the end of the 10 quarters? 10. A simple interst of P5,400 was charged on a loan of P80,100 for 4 years and 6 months, What simple annual rate of interest was charged on the loan? SECTION EXERCISE 1.8 Solve the following: 1. Find the time to accumulate an interest of P46,600 when P50,000 is invested at 11% simple interest . 2. How long will it take P20,000 to accumulate to P30,000 at 18% simple interest? 3. If P19,000 , lent out at 13% annual interest, earned P2,300, how long had it been lent? 4. Saturnino Semilla borrowed P120,000 from a bank charging 10% simple interest with an agreement that he would pay the principal and the interest at the end of the term. If she paid P150,000, at the end of the term, for how long did he use the money? 5. In what time will P13,750 triple itself at the rate of 11% simple interest. 6. The interest on a 7% of P12,600 loan is P2,500. What is the time on the loan? 7. How many months will it take for P32,00 to earn P1,800 if it is invested at 9% simple interest? 8. Find the term if the interest rate earned is P1,400, and the principal is P33,700 and the rate of interest is 6% 9. If P38,900, lent out at 5% annual interest, earned P2,000 interest, how long had it been lent? 10. Marcon obtained a loan of P110,000 from an agricultural cooperative at 8,12% interest rate. On the due date, he paid P130,300, when was the loan due? SECTION EXERCISE 1.8 Solve the following: 1. Cris Adolfo borrowed P80,000 at 10.4% ordinary interest for 130 days. On day 40 of the loan, he made a partial payment of P12,500. On day 80, he made another partial payment of P14,500. What is final amount due on the loan? 2. RRS Automobile Supplies borrowed P360,000 on July 7 for 350 days. The rate was 16% using ordinary interest method. On day 135 of the loan, RRS made a partial payment of P90,000 and on day 210 of the loan RRS made a second payment of P80,000. What is the new maturity value of the loan? 3. AUS Enterprise borrowed P500,000 on a 12.9%, 140-day note. After 30 days, AUS paid P220,000. Another thirty days later, AUS paid an additional P110,000. What are final balance due and the total interest? 4. Antonio Dacanay borrowed P83,000 for 230 days at 8.8%. On day 55, Antonio made a P23,000, partial payment On day 135, made a P40,000 partial payment. What is Antonio's ending balance due? 5. Albert Kalalo owes P122,000 on a `13.5%, 300-day note. On day 128, he pays P60,000 on the note. On day 199, he makes a P42,000 additional payment. What is Albert's adjusted balance after day 128 and 199? What is the ending balance due? 6. Dictador Untayao borrowed P78,000 at 5.6% ordinary interest for 60 days. On day 20 of the loan, he made a partial payment of P33,600. On day 50, he made another partial payment of P28,500. What is the new maturity value of the loan? CHAPTER 1 REVIEW PROBLEMS A. Complete the information below using Simple interest No. 1 Principal P5,000.00 4 P8,400.00 Maturity Rate of Term of Value Interest theLoan (%) 10% P2,000.0 0 P1,008.7 2 3 Interest P7,943.91 1 year 5 and 3 P2,318.4 months 2.3 0 years P27,700.0 13.1% 0 5 P18,156.6 4.9% 9 years 9.2% 3.7 years 8 years 0 6 P24,304. 56 7 P100,200. 6.4% 8 00 P66,800.0 7.2% 9 0 P10,000.0 P12,925.0 10 0 P82,900.0 0 P111,086. 00 11 0 P18,160.0 P8,580.6 0 0 12 11.7% 5 years 7% P104,025. 8.6% 00 13 P320,000. 00 4 years and 5 14.5% months 7 years 14 P14,700.0 5.6% 3.3 15 0 P30,720.0 P19,998. 16 0 P40,500.0 72 P40,678. 6.2 0 20 years years 12.4% B. Solve the following 1. How many days are there from Ma1=y1 until the due date on October 15? 2. Robinson Obar borrowed money from the Thrift Bank on March 26 and repaid the loan on October 19. Find how many days was the loan. 3. Cristina Rodriguez invested P250,000 in a stock market fund which promised an interest of P20,000 after 20 months. At what rate did her investment earn? 4. A man's investment of P60,230 earned P3.700 as interest after some time. If the interest on the investment was 6% per annum, find how long the man invested his money? 5. What is the rate of interest changed on a P35,000 loan if the debt is settled by a payment of P41,750 at the end of 3 years and 9 months? 6. Sari-sari store vendor buys some goods from a dealer who asks P15,950 at the end of 180 days. The vendor prefers to pay in cash and the dealer offers to compute the cash price at 13% simple interest. Find the cash price of the goods. 7. Edward Cariaga loans P35,300 at 6 simple interest, how long it will take him to get P3,800 interest? 8. Elmer Martin paid P26,800 on a loan made 4 months before at 9 % simple interest. Find the interest generated. 9. If a principal of P13,300 earns interest of P1,500 in 3 years and 6 months , what interest rate is in effect? 10. Ruel Dayrit deposited P80,250 in a bank paying 5% simple interest for 4 years. How would he have in his account at the end of four years assuming that no withdrawals were made? 11. A debt of P29,000 bears simple interest at 7 per annum. If it is repaid after 5 years, how much should the interest be? 12. A debtor borrowed P12,700 and after 4 years, paid back the loan with an 8% interest. How much was the interest paid? 13. Christopher Flores borrowed a certain principal form the bank with interest at 7% per annum. After 3.5 years, he paid back P34,500 to the bank for principal plus interest. How much was borrowed? 14. Dennis Caballes paid P8,220 interest at 12.6% for 15 month loan. What was the original loan? 15. Antonieta Zoleta borrowed P150,000 from a Universal Bank at 8.2% interest for 4 years. How much will she pay the bank after 4 years? 16. The total amount paid on a SSS loan is P38,800. If the loan was for 4 years at 12% simple interest, what was the original loan? 17. Ramon Tuano borrowed P25,000 and repaid the loan after 3 years and 6 months with interest at 10% simple interest. Find the total amount paid by Ramon. 18. In what time will P7,900 double itself at the rate of 13% simple interest? 19. A business establishment borrowed P70,000 from a rural bank charging 10% simple interest with a promise that the establishment would pay the principal and the interest incurred at the end of the agreed term. If the establishment paid P86,000 at the end of the specified term, how long did the money was used? 20. Maria Dolores Dela Cruz borrowed P45,000 at 9.2% ordinary interest for 90 days. On day 45 of the loan, she made a partial payment of P22,000. On day 60, she made another partial payment of P8,500. What is the new maturity value of the loan? 21. Joanne Esguerra invested P180,000 in the stock market which guaranteed an interest of P12,000 after 2 years and 6 months. At what rate would her investment earn? 22. Nerissa Abacon gets P33,300 every 3 months from a investment that pays 7.9% interest. How much money did she invest? 23. How long will it take P440,400 to earn P16,400 interest at 8.9%? 24. Mary Rose Saulog borrows P17,450 for 9 months at 9.15%. What amount must she pay? Anna Jemima Amansec borrows P19,310 from a credit union. Each month she is to pay P500 on the principal. She also pays interest at the rate of 2% a month on the unpaid balance at the beginning of the month. Find the total interest