Mr. Bacani borrowed money from the bank. He received from the bank P1,842 and promised to repay P2,000 at the end of 10 months. Determine the rate of simple interest?

Related Mcqs:

What refers to the amount of a product made available for sale ?

A. Supply B. Demand C. Product D. Good...

Mr. Jun Ramos was granted a loan of P20,000 by his employer Excel First Review and Training Center, Inc. with an interest of 6% for 180 days on the principal collected in advance. The corporation would accept a promissory note for P20,000 non-interest for 180 days. If discounted at once, find the proceeds of the note?

A. P18,000 B. P18,900 C. P19,000 D. P19,100...

A VOM has a selling price of P 400. If its selling price is expected to decline at a rate of 10% per annum due to obsolescence, what will be its selling price after 5 years ?

A. P 222.67 B. P 212.90 C. P 236.20 D. P 231.56...

What method is often used in municipal project evaluations where benefits and costs accrue to different segments of the community ?

A. Annual cost method B. Benefit-cost ratio C. Rate of return method D. EUAC...

The deliberate lowering of the price of a nation’s currency in terms of the accepted standard (Gold, American dollar or the British pound) is known as ____________________?

A. Currency appreciation B. Currency depreciation C. Currency devaluation D. Currency float...