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

Find the simple interest on ₱32,000 at 9% per year for 3 months.

  1. ₱8,640
  2. ₱2,880
  3. ₱720
  4. ₱7,200

Answer

C. ₱720

Solution

t = 3/12 year. I = ₱32,000 × 0.09 × 3/12 = ₱720.

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