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Assignment - Simple Interest

The document contains 10 math word problems involving simple interest calculations for various financial scenarios like savings accounts, loans, and investments. The key provides the answers to each problem.

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JOHN REY FABILLO
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© © All Rights Reserved
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Download as DOCX, PDF, TXT or read online on Scribd
13 views

Assignment - Simple Interest

The document contains 10 math word problems involving simple interest calculations for various financial scenarios like savings accounts, loans, and investments. The key provides the answers to each problem.

Uploaded by

JOHN REY FABILLO
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Assignment:

1. Juan deposited ₱10,000 in a savings account that earns 3% simple interest annually. How
much interest will he earn after one year?

2. Maria borrowed ₱5,000 from a friend and agreed to pay back with 5% simple interest after 6
months. How much will she pay back in total?

3. Diego invested ₱20,000 in a business venture that promised 8% simple interest annually. How
much interest will he earn after two years?

4. A bank offers a time deposit account with a 4% annual simple interest rate. If Pedro deposits
₱50,000 for 3 years, how much interest will he earn?

5. Sofia lent ₱15,000 to her friend at a 6% simple interest rate per year. After 9 months, how
much interest will her friend need to pay?

6. Carlo took out a ₱30,000 loan from a credit union with a simple interest rate of 7%. If he
repays the loan after 2 years, how much interest will he pay?

7. A pawnshop lent ₱8,000 to a customer at a simple interest rate of 10% per annum. How much
will the customer owe after 18 months?

8. Andrea invested ₱25,000 in a mutual fund with a simple interest rate of 5%. How much will
her investment grow to after 4 years?

9. Miguel deposited ₱12,000 in a time deposit account with an annual simple interest rate of 6%.
How much interest will he earn if he keeps the money there for 18 months?

10. Lisa borrowed ₱7,500 from her sister and agreed to pay back with 8% simple interest after
one year. How much will she pay back in total?
Key to Correction:
1. ₱300
2. ₱5,250
3. ₱3,200
4. ₱6,000
5. ₱675
6. ₱4,200
7. ₱11,000
8. ₱31,000
9. ₱1,800
10. ₱8,100

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