Across
- 2. The simple interest formula is I=Prt. The P represents ________.
- 6. If you are calculating the simple interest and you are given the time in days, how can you find the time in years?
- 9. How long does it take a sum of money to double itself at a simple interest rate of 5% per annum. (Write number in words)
- 12. The rate is given as a percentage. Before using it in the simple interest formula, you must first convert it to a _______.
- 15. What is the maturity date of a five month promissory note that was issued on 10 January 2021? (Answer must be in words and without year)
- 16. Sofia deposited RM20,000 for 3 years and RM15,000 for 5 years at the same of interest rate. She receives total interest of RM6750. What is the rate of interest?
- 18. Find the number of days from 15 April 2022 to 29 September 2022 using the approximate time.
- 19. What is the markdown percent on hair dryer if the price is dropped from RM500 to RM397. (Answer including decimal point)
- 20. RM1000 was invested for 3 years. The interest received at the end of 3 years is RM259.71 if the investment earns 8% compounded ________.
Down
- 1. An annual effective rate is the actual rate that is earned once in a year. It can be defined as ________.
- 3. What does it mean by 'NP' in the markdown formula?
- 4. A debt of RM4502.19 will mature in three years. Assuming money is worth 14% compounded semi - annually. What is the present value of this debt. Round off the answer to the nearest thousand.
- 5. Promissory notes can be divided into two types which are interest and ________ bearing note.
- 7. The present value is also known as ________ value.
- 8. An item that regularly sells for RM450 is markdown to RM382.50. What is the discount rate?
- 10. A shoe was offered for sale at RM320 with a 30% discount. What is the new price after reduction is applied?
- 11. Encik Jamaludin placed a total amount of RM84000 in two accounts of his sons for one year. Zulhemi's account earned simple annual interest at rate of 5% and Zanchary's account earned simple annual interest at a rate of 3%. Within a year, he did not make any deposits or withdrawals from both account within a year. If each account earned the same amount of an interest, which account that Encik Jamaludin placed more?
- 13. What do we called the difference between the net price and the list price?
- 14. Markdown is a ________ in selling price.
- 17. An invoice was dated 10 October 2021 for RM4600 was offered cash discount term of 3/10, 2/20, and n/60. Find the payment if the invoice was paid on 28 October 2021.
- 18. What is the discount period if a six months promissory note dated on 20 February 2021 was discounted on 11 May 2021.