Mary Ann borrowed P10,000 from a lending firm to
start a food cart business. The firm charges simple interest at an annual
rate of 3%.
1. What is the interest rate in decimal?
A 3.0
B.0.3
C.0.03
D. 0.003
2. Given the interest rate, after how many years will the money accumulated up
to P10,600?
C.3 years
A. 1 year
D. 4 years
B. 2 years​