Face Value Note
1. **Problem statement:** Find the face value of a 90-day promissory note when the interest is RM200 and the interest rate is 8% per annum.
2. **Step 1: Write down the known values.**
- Interest, $I = 200$
- Time, $t = 90$ days = $\frac{90}{365}$ years
- Interest rate, $r = 8\% = 0.08$ per annum
3. **Step 2: Use the simple interest formula:**
$$I = P \times r \times t$$
where $P$ is the face value (principal).
4. **Step 3: Rearrange the formula to solve for $P$:**
$$P = \frac{I}{r \times t}$$
5. **Step 4: Substitute the known values:**
$$P = \frac{200}{0.08 \times \frac{90}{365}} = \frac{200}{0.08 \times 0.246575} = \frac{200}{0.019726}$$
6. **Step 5: Calculate $P$:**
$$P \approx 10139.68$$
7. **Answer:** The face value of the note is approximately RM10139.68.