Chapter 6 & 7

Question 1

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)

Accepted Answer

RM8526

Accepted Answer

RM 8526

Question 2

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)

Accepted Answer

1

Question 3

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)

Accepted Answer

RM887.67

Accepted Answer

RM887.66

Accepted Answer

RM 887.67

Accepted Answer

RM 887.66

Question 4

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)

Accepted Answer

120

Accepted Answer

120 days

Accepted Answer

120day

Accepted Answer

120days

Question 5

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

Accepted Answer

RM4843.75

Accepted Answer

RM4844

Accepted Answer

RM4843.50

Question 6

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

Accepted Answer

RM225

Accepted Answer

RM 225

Question 7

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

Accepted Answer

x

Question 8

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?

Accepted Answer

RM11627.91

Question 9

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

Accepted Answer

17.39%

Accepted Answer

17.39

Question 10

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)

Accepted Answer

36.28%

Accepted Answer

36.26%

Accepted Answer

36.31%

Question 11

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.

Accepted Answer

RM10000

Accepted Answer

RM10,000

Question 12

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

Accepted Answer

o

Question 13

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

Accepted Answer

I=Brt

Question 14

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.

Accepted Answer

RM2300

Question 15

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

Accepted Answer

RM2204

Accepted Answer

RM2204.04

# 1

jawapan pendek

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)

# 2

pilihan

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)

# 3

jawapan pendek

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)

# 4

jawapan pendek

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)