Civil Service Exam Reviewer · Simple Interest and Profit/Loss · easy
Find the simple interest on ₱8,000 at 12% per year for 3 months.
- ₱240
- ₱2,880
- ₱960
- ₱2,400
Answer
A. ₱240
Solution
t = 3/12 year. I = ₱8,000 × 0.12 × 3/12 = ₱240.
More Simple Interest and Profit/Loss questions
- An old laptop bought for ₱1,860 was sold for ₱1,715. How much was the loss?
- A vendor buys a bag for ₱1,350 and sells it for ₱1,510. How much is the profit?
- ₱9,000 is deposited at 6% simple interest per year. How much will it amount to after 2 years?
- What is the simple interest on ₱100,000 at 8% per year for 5 years?
- A lender charges 10% simple interest PER MONTH. If Vic borrows ₱6,000 for 3 months, how much must be repaid in total?
- A manufacturer sells a fan to a wholesaler at 10% profit, the wholesaler sells to a retailer at 10% profit, and the retailer sells to a…
- The cost price of 27 items equals the selling price of 24 items. What is the percent profit?
- Two phones were each sold for ₱13,500. One was sold at a 40% gain and the other at a 40% loss (both on cost). What was the overall result?
- An appliance has a cash price of ₱85,000. On installment, the buyer pays 30% down and the balance plus 15% per year simple (add-on)…
- What is the difference between the compound interest (compounded annually) and the simple interest on ₱68,000 at 5% for 2 years?