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

Find the simple interest on ₱23,000 at 6% per year for 9 months.

  1. ₱12,420
  2. ₱1,380
  3. ₱10,350
  4. ₱1,035

Answer

D. ₱1,035

Solution

t = 9/12 year. I = ₱23,000 × 0.06 × 9/12 = ₱1,035.

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