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INSTRUCTIONS: TIME: 2 HOURS Answer ALL Question in the Answer Sheet. (60 MARKS) QUESTION 1...

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Accounting

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INSTRUCTIONS: TIME: 2 HOURS Answer ALL Question in the Answer Sheet. (60 MARKS) QUESTION 1 (20 marks) a) Mr. Lutfi deposits RM5,000 in a bank and obtains RM120 simple interest after 6 months. Compute the simple interest rate offered. (3 marks) b) A savings account was opened 180 days ago. Now the account is worth RM9,009. Calculate the original investment if the account offers 6% per annum simple interest. (4 marks)

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