The obverse features the portraits of Andrés Bonifacio and Emilio Jacinto, two important figures of the Katipunan movement during the Philippine Revolution.

In 1986, the note was completely redesigned and new elements regarding Quezon's accomplishments were added on the right side, namely the establishment of Tagalog as the Philippine national language (Wikang Pambansa), the coat-of-arms of the Commonwealth and the approval of the 1935 Constitution (Saligang Batas 1935).

After the creation of the Bangko Sentral ng Pilipinas in 1993, its new logo was incorporated on all the New Design series bills.

The names of the signatories on the bills were later added starting with banknotes featuring the signature of President Joseph Estrada.

In 2010, the portrait of Manuel L. Quezon was revised and the Malacañang Palace was moved from the reverse to the bottom center of the obverse.