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

Find the simple interest on ₱29,000 at 9% per year for 4 months.

  1. ₱10,440
  2. ₱2,610
  3. ₱870
  4. ₱8,700

Answer

C. ₱870

Solution

t = 4/12 year. I = ₱29,000 × 0.09 × 4/12 = ₱870.

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