Civil Service Exam Reviewer · Simple Interest and Profit/Loss · hard
Marco deposited ₱78,000 in one bank at 6% and ₱10,000 in another at 12% simple interest. What is the average (overall) rate of return per year?
- 9%
- 18%
- 7.68%
- 6.68%
Answer
D. 6.68%
Solution
Total interest = ₱4,680 + ₱1,200 = ₱5,880 on ₱88,000 → 6.68%.
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