Civil Service Exam Reviewer · Simple Interest and Profit/Loss · easy
What is the simple interest on ₱100,000 at 8% per year for 5 years?
- ₱140,000
- ₱8,000
- ₱4,000,000
- ₱40,000
Answer
D. ₱40,000
Solution
I = Prt = ₱100,000 × 0.08 × 5 = ₱40,000.
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