1) Ali deposited RM 1200 in a saving bank. The bank offered 12% simple interest per annum. How much interest does Ali earns in 5 years? a) 680 b) 960 c) 720 d) 840 2) Amin borrowed RM 1500 at the rate of 11% p.a.for 2 ½ years. What amount of money should he pay back after 2 ½ years? a) 1912.50 b) 1820.50 c) 2135.50 d) 2260.50 3) A bank gave Amir a loan of RM12000. He paid back the money along with a simple interest in 12 months. If the bank got an interest of RM1920, at what rate was the charged by the bank? a) 13% b) 14% c) 15% d) 16% 4) What sum will amount to RM 1199 in 3 years at 12 ½ p.a. simple interest? a) 425 b) 535 c) 650 d) 872 5) The simple interest on a certain sum is 9/25 of the sum. Find the rate per cent and the time if both are numerically equal. a) 6%, 6 years b) 5%, 5 years c) 4%, 4 years d) 3%, 3 years 6) Aisyah invested a certain sum of money in an account that pays 13.5% compounded every two months. The account will amount to RM 6097.35 in 6 years 8 months. Calculate the original principal that was invested. a) RM 2311.05 b) RM 2503.85 c) RM 2832.12 d) RM 3011.24 7) Rahman have to pay RM X every three month for 3 years to settle an investment loan at 3% compounded quarterly. Determine the value of X if the original value of the loan is RM11, 000 a) 679.95 b) 723.99 c) 961.97 d) 832.13 8) RM600 is deposited every six month for three years at 10% p.a compounded semi-annually. Determine the future value of this annuity at the end of investment period? a) RM 6103.87 b) RM 3471.98 c) RM 4081.15 d) RM 5512.23 9) Farhan placed RM 7500 in a bank account for ten years. The bank offered an interest rate of 6% compounded semi-annually for the first four years and k % compounded quarterly for the rest of the period. If the amount in the account at the end of ten years was RM 15281.41, find k. a) 6% b) 7% c) 7.4% d) 8% 10) The definition of ordinary annuity certain is a) The sum of all the present values of the individual periodic payments b) Series of periodic payments or deposit c) Final value at the end of the term of the annuity d) Payments of equal amount are made at the end of interest period with fix number of payment 11) Ms Ng deposited RM 2,540 at the end of every three months in a savings account that paid interest at a rate of 7.85% compounded quarterly for eight years. Find the amount in the account just after her last deposit a) RM 111,629.98 b) RM 98,564.44 c) RM 77,412.03 d) RM 59,935.71 12) Immediately after retiring, Amelia intends to withdraw RM 850 every month from an investment account that pays 9.2% compounded monthly. If she can make withdrawals for 18 years, find the amount that was invested just before she retired. a) RM 466, 243.78 b) RM 65, 128.34 c) RM 89, 570.35 d) RM 121,323.11 13) Encik Zuhelmi borrowed RM 350,000 from a bank that charged interest at 4% compounded monthly. For the repayment of the bank loan, he has to pay RM 5,103.19 a month. Find the number of years that will settle the loan. a) 5 years b) 5.5 years c) 6.5 years d) 7 years 14) Nurin has to pay RM500 every month to settle loan of 25,000 at 8% p.a. compounded monthly. Find the number of payments she has to make? a) 43 b) 51 c) 58 d) 62 15) A student won an annuity that pays RM 500 at the beginning of every months for two years. What is the present value of this annuity if money is worth 12% p.a. compounded monthly? a) RM 10621.69 b) RM 10727.91 c) RM 10227.91 d) RM 13486.73 16) A professional photographer invested RM3000 at the beginning of a month in an account that pays 3% compounded monthly. Find the amount in the account after ten years. a) RM 420272.32 b) RM 419224.26 c) RM 30339.76 d) RM 30415.61 17) Mr. Afiq has a loan of RM 2 200 that is due in six months and another loan of RM 3 300 that is due in 12 months, both of which incur a nominal interest rate of 6.6% per year compounded semi-annually. Find the amount that he has to pay if both loans are to be settled at six months.  a) RM 4915.89 b) RM 5394.58 c) RM 5289.79 d) RM 5500 18) Ms Amani has a loan of RM 2 200 that is due in six months and another loan of RM 3 300 that is due in 12 months, both of which incur a nominal interest rate of 6.6% per year compounded semi-annually. Find the amount that she has to pay if both loans are to be settled at 12 months.  a) RM 5394.58 b) RM 5566.83 c) RM 5647.60 d) RM 5572.6 19) Safuan has a loan of RM 2 200 that is due in six months and another loan of RM 3 300 that is due in 12 months, both of which incur a nominal interest rate of 6.6% per year compounded semi-annually. Find the amount that he has to pay now. a) RM 4903.12 b) RM 4045.76 c) RM 5222.25 d) RM 5218.57 20) A debt of RM300 due in 5 months and another debt of RM500 due in ten months are to be settled at the end of 8 months by a single payment and both debts charged based on 3% simple rate. Find the amount to be paid at the end of 8 months by using present as the focal date. a) RM 784.10 b) RM 783.95 c) RM 816.25 d) RM 799.78 21) You have borrowed from your line of credit. 6 months ago you borrowed RM1,000 and today you borrowed RM5,000 .You plan to pay off the entire line of credit with three equal payments at 3, 5 and 8 months (from today). Find the size of each payment if your bank charges you 8.3% simple interest?  a) RM 2087.67 b) RM 6041.50 c) RM 2013.83 d) RM 2090.66 22) You have borrowed from your line of credit. 6 months ago you borrowed RM1,000 and today you borrowed RM5,000 .You plan to pay off the entire line of credit with two equal payments at 3 and 8 months (from today). Find the size of each payment if your bank charges you 8.3% simple interest?  a) RM 3020.75 b) RM 3132.10 c) RM 3134.70 d) RM 3135

Simple, Compound and Annuity

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