Civil Service Exam Reviewer · Simple Interest and Profit/Loss · medium
How many years will it take ₱64,000 to earn ₱57,600 at 15% simple interest?
- 6 years
- 7 years
- 90 years
- 12 years
Answer
A. 6 years
Solution
t = I/(Pr) = 57,600/(64,000 × 0.15) = 6 years.
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