Engineering Board Exam Reviewer · Discount · easy

A note for P10,000 is discounted at 8% simple discount for 90 days. Find the discount.

  1. P200
  2. P180
  3. P220
  4. P250

Answer

A. P200

Solution

D=Fdt=10000(0.08)≤ft(90/360 )=P200.

More Discount questions

  1. For the note above (F=P10,000, D=P200), find the proceeds.
  2. A P20,000 note is discounted at 10% for 180 days. Find the proceeds.
  3. Find the discount rate if a P15,000 note yields proceeds of P14,250 after being discounted for 120 days.
  4. A borrower receives proceeds of P9,000 from a loan discounted at 10% for 1 year. Find the face value of the note.
  5. Find the equivalent simple interest rate corresponding to a simple discount rate of 10% for 1 year.
  6. A P50,000 note due in 90 days is discounted at a bank at 12% discount rate. Find the proceeds.
  7. A promissory note for P30,000 is due in 6 months. If discounted now at 9% simple discount, find the discount.

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