Civil Service Exam Reviewer · Simple Interest and Profit/Loss · hard
What amount must be invested now at 8% simple interest to have ₱79,800 after 5 years?
- ₱47,880
- ₱57,000
- ₱54,310.54
- ₱75,800
Answer
B. ₱57,000
Solution
P = A ÷ (1 + rt) = ₱79,800 ÷ 1.4 = ₱57,000.
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