A promissory note for RM8,400 with interest at 6% per annum that was due in 90 days. The note was dated on 23 May 2018. Determine the maturity value. (Use Banker's Rule)

• RM8526

• RM 8526

A promissory note for RM500 with interest at 10% per annum that was due in 120 days. The note was dated on 10 Jun 2017. Determine the maturity date and the maturity value. (use Banker’s rule)

• 10 October 2017, RM 516.67 or RM 516.65
• 8 October 2017, RM 516.67 or RM 516.65
• 8 October 2017, RM 516.66 or RM 516.64

A promissory note with a maturity value of RM900 and interest at 10% per annum due in 50 days. The note was matured on 10 April 2017. Determine the face value. (use Banker’s rule)

• RM887.67

• RM887.66

• RM 887.67

• RM 887.66

A loan of RM10,000 was charged a simple discount rate of 6%. If the proceeds received were RM9,800, find the discount. Hence find the discount period in days. (Use Banker's Rule)

• 120

• 120 days

• 120day

• 120days

Rubiah borrowed RM5,000 for 5 months at a discount rate of 7.5%. Find the proceeds received.

• RM4843.75

• RM4844

• RM4843.50

Juliana borrows RM 5000 for six months from a lender who charges a discount rate of 9%. Find the discount.

• RM225

• RM 225

Discounting a promissory note increases the amount the holder receives at maturity.

Sarina needs RM 10,000 now to start a business. How much should she borrow from her bank for two years at 7% bank discount?

• RM11627.91

What discount rate should lender charge to earn an interest rate of 20% on a nine-month loan?

• 17.39%

• 17.39

A note with a maturity value of RM 7200 was discounted 43 days before maturity. If the proceeds were RM 6888, find the discount rate that was charged. (use Banker's rule)

• 36.28%

• 36.26%

• 36.31%

The interest on a 90-day promissory note is RM200. If the interest rate is 8% per annum, find the face value of the note.

• RM10000

• RM10,000

A higher down payment on an installment purchase reduces the total interest paid over the loan period.

When interest is based on the original balance, what is the formula used to find the interest?

• I=Brt

Ali bought a laptop with a RM300 down payment and 15 monthly instalments of RM150. If the interest rate was 10% per annum on the original balance, find the cash price.

• RM2300

Siti bought a RM2,000 refrigerator with a 15% down payment and paid the balance in 18 monthly instalments. The interest rate was 8% per annum on the original balance. Find instalment price

• RM2204

• RM2204.04