WHOLE BRAIN LEARNING SYSTEM

OUTCOME-BASED EDUCATION

GENERAL GRADE
MATHEMATICS 11

2
SUMMATIVE QUARTER

ASSESSMENT WEEK 1-2

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 SUMMATIVE ASSESSMENT IN MATHEMATICS 11 (GENERAL MATHEMATICS)
QUARTER 2 (WEEKS 1 & 2)
SY 2020 - 2021

Name: ________________________________Grade and Section: ___________________

Subject Teacher: ________________________School: ____________________________

LEARNING COMPETENCIES:
1. Illustrates and distinguishes simple and compound interests
2. Computes interest, future value in simple interest and compound interest environment

OPEN BOOKS TEST ITEM:

DIRECTIONS: Below are important sections of three selected articles about simple and
compound interests. Read the selections and choose which among them gives the best details on
simple and compound interests. After the third article, write your answer in the space provided.
You are allowed to refer to your module or available references (e.g. textbook) and the Internet.
You are NOT allowed to ask help from your classmates, parents, guardians, relatives or any
other adult. Before submitting, make sure you have followed the instructions on how to answer.

ARTICLE 1: Simple Interest and Compound Interest

Interest is defined as the cost of borrowing money as in the case of interest charged on a loan
balance. Conversely, interest can also be the rate paid for money on a deposit as in the case of
certificate of deposit. Interest can be calculated in two ways, simple interest or compound interest.
Simple interest is calculated on the principal or original amount of loan. Compound interest is
computed on the principal amount and also on the accumulated interest of previous periods. Thus, can
be regarded as “interest on interest”.

The formula for calculating simple interest is; Simple Interest = P • r • t where P is the principal, r
is the interest, and t is the term of loan. For example, if a simple interest is charged at 5% on a ₱10,000
that is taken out for 3 years, then the amount of interest payable would be 10,000 x 0.05 x 3 = ₱1,500.
If the loan is to be paid completely, then the borrower would pay ₱11,500.

The formula for calculating compound interest in a year is CI = F – P, where in F is the future value
and P is the present value. The future value is calculated first using the formula F = P(1 + r)t, Consider
the same amount of P, r and t in the previous example with an interest compounded annually. F =
10,000(1 + 0.05)3 = ₱11,576.25. hence the CI = 11,576.25 – 10,000 = ₱1576.25
(Adapted from: www.investopedia.com)

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ARTICLE 2: Simple and Compound Interests
When a person takes out a loan, most lenders charge interest on the loan. Interest is a fee or charge
for borrowing money, typically a percentage rate charged per year. We can compute for simple interest
by multiplying the amount borrowed, the interest rate and the number of years. Another type of interest
calculates interest on both the money initially deposited as well as the interest earned and it’s called
compound interest.

We start with simple interest equation: I = P • r • t, where I is the simple interest, P is the principal
amount or original amount, r is the interest rate usually per year rate, and t is the time expressed in years
or portion of a year. Example, supposed you deposited ₱2,000 in a cooperative bank that gives 4%
annual rate, how much interest will you earn in 2 years? I = 2000 x 0.04 x 2 = ₱160.

The compound interest formula is F = P(1 + r)t where F = the accumulated amount, P = original or
starting amount, r = annual percentage rate expressed in decimal, and t = time in years. For example, if
your parents invested ₱5,000 in an investment account paying 3% interest compounded annually, how
much will the account be worth in 10 years? F = 5,000(1+0.03)10 = ₱6719.58. The interest earned is
6719.58 – 5,000 = ₱1719.58.

(Adapted from: www.lumenlearning.com)

ARTICLE 3: Simple and Compound Interests
Interest maybe defined as the charge for using the borrowed money. It is an expense for the person
who borrows money and income for the person who lends. Interest is charged on the principal amount
at a certain rate for a certain period. For example 10% per year, 4% per quarter, 2% per month. Principal
amount is the amount of money originally borrowed from an individual or financial institution. In
practice, the interest is charged using one of these two methods, Simple Interest and Compound Interest.

In simple interest method, the interest is charged only on the amount originally lent. Interest here is
not charged on any accumulated interest under this method. Simple interest is usually charged on short-
term borrowing. The formula is I = P • r • t, where P = principal amount, I = amount of interest, r = rate
of interest and t = number of period. Example: A loan of ₱10,000 has been issued for 6 years. How much
is charged at 5% simple interest rate per year? I = P • r • t, I = 10,000 x 0.05 x 6 = ₱3,000.

In the compound interest method, the interest is charged on principal plus any accumulated interest.
The amount of interest for a period is added to the amount of principal to compute the interest for next
period. The interest is reinvested to earn more interest. The interest may be compounded monthly,
quarterly, semi-annually or annually. Consider the example: Supposed you deposited in a bank the
amount of ₱10,000 at 2% interest compounded annually, how much interest will you earn after 5 years?
Here is the table showing the computation for 5 years:
Year Principal Rate Interest Compound Amount In short, the compounded
1 10,000 0.02 200 10,200 amount is obtained using the
2 10,200 0.02 204 10,404 formula F = P(1+r)t. where F =
3 10,404 0.02 208.08 10,612.08 accumulated amount, P is the
4 10,612.08 0.02 212.24 10,824.32 principal amount, i = rate of interest
5 10,824.32 0.02 216.49 11,040.81 and t = number of periods. To find
the compound interest, use CI = F –
P.
Hence the compound interest = 11,040.81 – 10,000 = ₱1,040.81.
(Adapted from: www.management.org)

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DIRECTIONS: In your answer, discuss your choice and support your answer with quotations or
statements from the chosen article. Organize well your ideas because you will be given points using a
rubric. Start your writing as; Article no. ______ about the _________________ is the best for me
because…
ANSWER:

HOLISTIC RUBRIC

POINTS CRITERIA
4 Student’s discussion of his or her choice is comprehensive. Student is able to
support his/her answer with appropriate texts from the article and was able to point
out the weaknesses or limitations of other articles.
3 Student’s discussion of his or her choice is convincing. Student is able to support
his/her answer with appropriate texts from the article.
2 Student’s discussion of his or her choice is convincing. However, the student is not
able to support his/her answer with specific texts from the article.
1 Student’s discussion of his or her choice is limited. However, the student is able to
identify ideas from the article that relate to the learning competency.
0 No article is selected, there is no discussion.

PERFORMANCE TASK (GRASPS: SINGLE PRODUCT)

LEARNING COMPETENCY: Computes interest, future value in in simple interest and compound
interest environment.
PERFORMANCE STANDARD: The learners investigate, analyze and solve problems involving
simple and compound interests, simple and general annuities using appropriate business and financial
instruments.
SITUATION: Supposed you inherited a huge amount of ₱4,000,000.00 and you wish to invest it in 5
years, wherein a part of the amount will be invested in an investment that gives 8.5% simple interest
and the other part of the amount to an investment that gives 7% interest compounded annually.

GOAL: To set particular amounts from the ₱4,000,000.00 to be invested in each type of investments
at the given term. From the desired amounts to be invested, show how each investment gains interest
from the simple interest method and the compound interest method through tabular form.

ROLE: You are an employee in a financial institution.

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PRODUCT: Present tables showing the yearly computation how much money wills there be at the
end of the term and provide an explanation for each table.

AUDIENCE: Your target audience would be your family members

STANDARDS: The output shall be evaluated in terms of the accuracy and completeness of the
calculations accompanied by explanation from each table presented.

RUBRIC ON THE ACCURACY AND COMPLETENESS OF CALCULATIONS AND

EXPLANATION OF THE CALCULATIONS

Outstanding Satisfactory Developing Beginning Missing

Criteria
(4) (3) (2) (1) (0)
The learner is The learner is The learner is The learner is No
able to able to able to able to present computation
accurately and accurately accurately and only one presented
Accuracy completely compute the completely computation
and compute the interests but compute only yet incomplete
Completeness interests and the maturity one of the
of maturity values values were investments
Calculations in both not determined with the
investments in both maturity value
investments

The learner is The learner is The learner is The learner is No

able to explain able to explain able to explain not able to explanation
Explanation clearly and the entries in only some of explain given
of the correctly the both tables but the entries in correctly the
Calculations entries with few the tables entries in the
presented in irrelevant tables
every table. statements

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SUMMATIVE ASSESSMENT IN MATHEMATICS 11 (GENERAL MATHEMATICS)
QUARTER 2 (Weeks 1-2)
SY 2020 – 2021

DEVELOPMENT TEAM

JERICK C. PALTONG
Teacher III

MARITES C. PERALTA RICHARD B. PAULINO

Teacher III Teacher III

QUALITY ASSURANCE TEAM

NENETH S. NARCISO MYLA FEI Q. MARTINEZ

Teacher II Teacher II

MA. TERESA R. PASCUAL CRISTOPHER RUIZ

Teacher II Teacher III

ELDEFONSO B. NATIVIDAD, JR. ROQUE A. DOMINGO

Master Teacher II Head Teacher III

MANAGEMENT TEAM