Simple Interest

Allied Bank loaned Checkpoint Industries money at 8% interest for 90 days. If the amount of interest was Php 200,000, use the ordinary interest method to find the amount of principal borrowed.

• Php 5,000,000

• Php 10,000,000

• Php 15,000,000

• Php 20,000,000

Telex Electronics borrowed money at 9% interest for 125 days. If the interest charge was Php 28,000, use the ordinary interest method to calculate the amount of principal of the loan.

• Php 795,000

• Php 827,000

• Php 896,000

• Php 913,000

Using the ordinary interest method, what is the rate of interest on a loan of Php 250,000 for 125 days if the amount of interest is Php 8,300? Round your answer to the nearest hundredth of a percent.

• 9.56%

• 10.23%

• 11.78%

• 12.64%

Using ordinary interest method, what is the rate of interest on a loan of Php 1,250,000 for 245 days if the amount of interest is Php 98,000? Round of your answer to the nearest hundredth of a percent.

• 10.94%

• 11.52%

• 12.07%

• 13.44%

What would be the time period of a loan for Php 7,600 at 11% ordinary interest if the amount of interest is Php 290?

• 110 days

• 115 days

• 120 days

• 125 days

What is the time period of a loan for Php 15,000 at 9.5% ordinary interest if the amount of interest is Php 650?

• 165 days

• 160 days

• 155 days

• 150 days