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1) - E. Abad Signs A P30,000 Note For 9 Months. The Banker Discounts The Note at 5%. Find The Amount of

This document contains 6 practice problems on promissory notes. It provides the key details of each problem such as the face value of the note, discount rate, time period, proceeds, and asks the reader to calculate values like discount and rate. It also includes the solutions and steps taken to solve each problem. At the end, it notes that the author received a perfect score on this exercise and warns against being too overconfident.

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265 views

1) - E. Abad Signs A P30,000 Note For 9 Months. The Banker Discounts The Note at 5%. Find The Amount of

This document contains 6 practice problems on promissory notes. It provides the key details of each problem such as the face value of the note, discount rate, time period, proceeds, and asks the reader to calculate values like discount and rate. It also includes the solutions and steps taken to solve each problem. At the end, it notes that the author received a perfect score on this exercise and warns against being too overconfident.

Uploaded by

chezyl cadinong
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ROZEN CHASE RAMIREZ

BSET 1-A

Exercise on Promissory Notes

1). E. Abad signs a P30,000 note for 9 months.  The banker discounts the note at 5%.  Find the amount of
discount and the proceeds.
F = 30 000 Id = Fdt P = F – Id
d = 5% 30 000 (0.05) ( 30 000 – 1,125
t=9 = 1, 125 discounts = 28, 875 proceeds

2).  Mr. R de Belen borrows P23,000 for145days at a discount rate of 8.5%.  How much will his discount be and
proceed using the Banker’s rule? 
= 23 000 Id = Fdt P = F – Id
= 8.5 % = 23 000 (0.085) ( = 23 000 – 787. 43
= 145 days = 787. 43 discounts = 22, 212.57 proceeds

3). A note has face value of P32,500 and a time of 120 days.  If the proceeds are P31,850, how much is the rate
of simple discount? 

F = 32, 500 F–P r=


P = 31, 850 d = 32, 000 – 31, 850 r=
t = 120 d = 150 r = 3.06 %

4). A note with a face value of P24,000 was discounted at 10%.  If the discount is P1,000, find the length of the
loan in days. 

F = 24 000 t= t = 0.416666667 x 360


r = 10 % t= t = 150 days
d = 1000 t = 0.416666667

5).  R. Montes received P21,800 after signing a 180-day note for P22,672.  Find the discount rate. 

P = 21 800 Id = F – P d=
F = 22, 672 22, 672 – 21, 800 d=
t = 180 = 872 d = 0.77% or 77 % /7.69

6). A non-interest-bearing note is sold to a bank 60 days before maturity.  The discount rate is 15 ½%.  If the
seller receives P26,847 from the bank what is the face value of the note?
P = 26, 847 F = P (1 + rt) =
r = 15 ½ % F = 26, 847 [ 1+ (0.155) ()
t = 60 F = 47, 653. 425 = 27,152. 95

PS:
SINAGOT KO NA YAN PARA SAYO, PERFECT SCORE KO DITO WALANG LABIS WALANG
KULANG, SYA LANG CHARIZZZZZ, WAG ABUSADO AH HMMM

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