Ammar borrows RM5,000 at 8% simple interest per annum on 20 September 2015. if she charged RM124.44 simple interest, find the date she settles the loan. (Use the Banker's Rule).

Answer 1

I = P*r*t = 124.44.
5000*(0.08/360)*T = 124.44,
T = 112 days
10, 31, 30, 31, 10. = 112 days.
Date: 1-10 - 16.

Answer 2

RM1,999 is invested for a certain period. The simple interest earned is RM999.50. Find the period of this investment if the simple interest rate offered is 10% per annum.

a.
3 years

b.
4 years

c.
1 year

d.
5 years

e.
2 years

f.
no answer

Answer 3

Find the number of days using Bankers Rule if RM100000 was invested at 6.5% simple interest rate and received amount RM100361.

a.
10 days

b.
20 days

c.
no answer

d.
1 week

e.
25 days

f.
30 days
Clear my choice