A person lent P5000.00 to B for 2 years and P3000.00 to C for 4 years on simple interest at the same rate of interest and received P2200.00 in all from both of them as interest. What is the rate on interest per annum?"

Q: Assume a 6 month CD purchase for 5,000 pays simple interest at an annual rate of 9.5. How much…

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Q: Mr. A borrows P 12,000.00 with interest at 6% for two years from Mr. B. What should Mr. B accept in…

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Q: Your brother was supposed to repay a loan to you in 2 payments due in the past. He is going settled…

A: The simple interest formula is

Q: Find the total interest paid of the loan if the amount borrowed is OMR 25,000 at 5% interest for 8…

A: I am using Simple Interest formula for this. S.I.=(25,000*5*8)/100 S.I.=OMR 10,000

Q: If a nine-month term deposit at a bank earns a simple interest rate of 9% per annum, how much should…

A: Given: The value of r is 9%

Q: A man borrows GH¢12,000.00 from the bank at 15% per annum for 3 years. Determine the sum of each…

A: Given A man borrows GH¢12,000.00 from the bank at 15% per annum for 3 years. To Determine the sum of…

Q: A man starts his job with a certain m onthly salary and eams a fixed increment every year. If his…

A: Here every year same increment. So in 6year salary increase by 300rs  So in 1year salary increase…

Q: The monthly payments on a 10-year loan of $20,000 at 6.6% interest are $228.11. (a) What is the…

A: It is given that, the monthly payments on a 10-year loan of $20,000 at 6.6% interest are $228.11.…

Q: The monthly interest rate on this loan is 0.5%. The amount of the first month’s payment ($1918.56)…

A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

Q: What is the simple interest on ₱12,500 at 8% for 9 months?

A: Formula for simple interest is as follows : I = P×R×T Where , P  is principal amount. R is Interest…

Q: A loan of P100,000 has been issued for 5 years. Compute for the amount to be repaid to the lender if…

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Q: A loan of P95,000 is borrowed for 240 days at a simple interest rate of 12.3 percent per year. What…

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Q: b) A salary of £5 240 is to be increased by 1.2%. Calculate (i) the increase, (ii) the new salary.

A: Given that the salary of £5240 is increased by 1.2% To calculate  (i) the increase  (ii) the new…

Q: If you were to lend Rs. 1,500,000 for five years and charged 19%. Calculate your return in each…

A: Note: It is assumed that the charged amount is the simple interest. The simple interest, I, is…

Q: Perry took out a payday loan for $1350 that charged a $55 fee. If the loan matures in 1 week, what…

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Q: For 10 years with total payments of $ 10000 per year, calculate the total amount accumulated after…

A: Consider the given information. Total payment per year. P=$10,000 Time period is defined as, n= 10…

Q: The monthly payments on a 10-year loan of $25,000 at 6.1% interest are $278.81. (a) What is the…

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