BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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How much should the lender receive at the end of the term for a Php 5000 in 3 years at 6% interest?
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Php 900
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Php 500
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Php 5, 000
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Php 5, 900
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Explanation:
Detailed explanation-1: -Therefore, the simple interest is Rs. 600.
Detailed explanation-2: -The simple interest of 3 years at 9 % p.a. of Rs. 5000 is Rs. 1350 .
Detailed explanation-3: -= ₹1250. Q. Find simple interest on Rs.
Detailed explanation-4: -Here, we will find simple interest (SI) using the formula PRN100 where, P is principal amount i.e. Rs. 5000, R is rate of interest i.e. 5% and N is time period i.e. 2 years. Thus, simple interest is Rs. 500.
There is 1 question to complete.