1. **State the problem:** Azizi took a loan on 1 May 2020 with a simple interest rate of 5.5% per annum. He paid RM14,320.84 on 28 October 2020 to settle the loan. We need to find (a) the term of the loan in exact number of days, and (b) the loan amount using Banker's Rule. 2. **Calculate the term of the loan in days (Banker's Rule):** Banker's Rule assumes each month has 30 days and a year has 360 days. From 1 May 2020 to 28 October 2020: - May to October is 6 months (May, June, July, August, September, October) - Days = 6 months \times 30 days/month = 180 days 3. **Calculate the loan amount:** Let the loan amount be $P$. Simple interest formula: $$I = P \times r \times t$$ where - $I$ = interest - $r$ = rate per annum (as decimal) = 5.5% = 0.055 - $t$ = time in years = $\frac{180}{360} = 0.5$ Total amount paid = Principal + Interest Given total amount = 14,320.84 So, $$14,320.84 = P + P \times 0.055 \times 0.5 = P(1 + 0.0275) = 1.0275P$$ Solve for $P$: $$P = \frac{14,320.84}{1.0275} = 13,930.00$$ 4. **Final answers:** (a) Term of the loan = 180 days (b) Loan amount = 13,930.00