1. **Problem Statement:** Hafiz received a promissory note with a face value of 12000 for 135 days at an annual simple interest rate of 6.25%. The note matures on 10th October 2025. Part (a) Find the date the note was issued. Part (b) Find the maturity value of the note. 2. **Calculating the issuance date (part a):** - The note matures 135 days after the issue date. - Maturity date is 10th October 2025. We subtract 135 days from 10th October 2025 to find the issue date. Starting from 10th October 2025, subtract days: - October 10 to October 1: 9 days - September 2025 has 30 days, subtract remaining: 135 - 9 = 126 days left - Subtract 30 days of September: 126 - 30 = 96 days left - August has 31 days: 96 - 31 = 65 days left - July has 31 days: 65 - 31 = 34 days left - June has 30 days: 34 - 30 = 4 days left So, 4 days before 1st June 2025 is 28th May 2025. Therefore, the issue date is **28th May 2025**. 3. **Calculating the maturity value (part b):** Formula for simple interest: $$I = P \times r \times t$$ where - $P = 12000$ (principal) - $r = 6.25\% = 0.0625$ per annum - $t = \frac{135}{365}$ years (using exact interest) Calculate interest: $$I = 12000 \times 0.0625 \times \frac{135}{365} = 12000 \times 0.0625 \times 0.369863 = 277.42$$ (rounded to 2 decimal places) Maturity value $M$ is principal plus interest: $$M = P + I = 12000 + 277.42 = 12277.42$$ **Final answers:** - Issue date: 28th May 2025 - Maturity value: 12277.42