Civil Service Exam Reviewer · Simple Interest and Profit/Loss · medium

What is the maturity value of a ₱45,000 loan at 6% simple interest after 30 months?

  1. ₱6,750
  2. ₱51,750
  3. ₱126,000
  4. ₱47,700

Answer

B. ₱51,750

Solution

I = ₱45,000 × 0.06 × 30/12 = ₱6,750. Maturity value = ₱51,750.

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