Civil Service Exam Reviewer · Simple Interest and Profit/Loss · medium
What is the maturity value of a ₱46,000 loan at 10% simple interest after 15 months?
- ₱51,750
- ₱5,750
- ₱115,000
- ₱50,600
Answer
A. ₱51,750
Solution
I = ₱46,000 × 0.1 × 15/12 = ₱5,750. Maturity value = ₱51,750.
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