NAME: ______________________________ DATE: ___________
Chapter Test 1 General Mathematics
I. Multiple Choice
1. It refers to the person or institution who invest the money or makes the funds available
a. Time or term c. Origin or Loan date
b. Borrower or debtor d. Lender or Creditor
2. It refers to the date on which money is received by the borrower.
a. Time or term c. Origin or Loan date
b. Borrower or debtor d. Lender or Creditor
3. It refers to the person or institution who owes the money or available of the funds from the lender.
a. Time or term c. Origin or Loan date
b. Borrower or debtor d. Lender or Creditor
4. It is the amount of time in years the money is borrowed or invested; length of time between the origin and
maturity dates.
a. Time or term c. Origin or Loan date
b. Borrower or debtor d. Lender or Creditor
5. It refers to the date on which the money borrowed or loan is to be completely repaid
a. Principal c. Repayment date or Maturity date
b. Rate d. Maturity value or Future Value
6. It refers to the amount of money borrowed or invested on the origin date.
a. Principal c. Repayment date or Maturity date
b. Rate d. Maturity value or Future Value
7. It is usually in percent, charged by the lender or rate of increase of the investment
a. Principal c. Repayment date or Maturity date
b. Rate d. Maturity value or Future Value
8. It refers to the amount after years that the lender receives from the borrower on the maturity date.
a. Principal c. Repayment date or Maturity date
b. Rate d. Maturity value or Future Value
9. It refers to the interest that is computed on the principal then added to it.
a. Compound Interest c. Annual Interest
b. Interest d. Simple Interest
10. It is the interest that computed on the principal and also on the past accumulated past intense.
a. Compound Interest c. Annual Interest
b. Interest d. Simple Interest
II. Matching Type
1. Time or Term a. P
2. Principal b. r
3. Rate c. t
4. Maturity Value d. 𝐼𝑠 = 𝑃𝑟𝑡
5. Simple Interest e. F
6. Withholding Tax f. F = P + 𝐼𝑠
7. Future Value Formula (𝐼𝑠 ) g. 20%
8. Compound Interest h. P= 𝐹(1 + 𝑟)−𝑡
9. Maturity Value Formula (𝐼𝑐 ) i. 𝐼𝑐 = 𝐹 − 𝑃
10. Present value ( 𝐼𝑐 ) j.𝐹 = 𝑃(1 + 𝑟)𝑡
III. Solve the ff. Problem ( show your solution)
1. How much money should a student place in a time deposit in a bank that pays 4.5 % compounded
annually so that he will have Php. 500,000 after 5 years?
2. What is the present value of php. 74,000 due in 4 years if money is worth 10% compounded
annually?
3. Find the maturity value and the compound interest if php. 150,000 is compounded annually at an
interest rate of 3% in 4 years
4. Find the maturity value and interest if php. 570,000 is invested at 3.5% compounded annually for
10 years.
5. Find the maturity value if 2 million pesos is deposited in a bank at an annual simple interest rate
of 1.25% after (a) 1 year and (b) 3 years?
6. How much interest is charged when Php. 86,000 is borrowed for 7 months at an annual simple
interest rate at 12%?
7. A bank offers 0.55% annual simple interest rate for a particular deposit. How much interest will be
earned if 3 million pesos is deposited in this savings account for 1 year? How much the
withholding tax of the interest?
Prepared by:
John Christian De Leon
1. D
2. C
3. B
4. A
5. C
6. A
7. B
8. D
9. D
10. A
1. C
2. A
3. B
4. F
5. D
6. G
7. F
8. I
9. J
10. H
