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6. What is the interest rate that a bank offers if your principal money of Php 30 500.00 yields Php 4 575.00 interest after three years?​

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JULIASLODAVAIN

[tex]\large\underline{\rm\color {black}{PROBLEM}:}[/tex]

  • What is the interest rate that a bank offers if your principal money of ₱30,500.00 yields ₱4,575.00 interest after three years?

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[tex]\large\underline{\rm\color {black}{ANSWER}:}[/tex]

  • [tex]\large\underline\color{yellowgreen} {{\tt{I \: ≈ \: 5\%}}}[/tex]

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[tex]\sf\underline\color {black}{FORMULA:}[/tex]

  • [tex]\small\underline\bold\color {white}{I \: = \: P.R.T}[/tex]

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[tex]\large\underline{\rm\color {black}{SOLUTION}:}[/tex]

  • [tex]\small\underline\bold\color {white}{I \: = \:( \: 4575.00) \: (30500.00) \: (3)}[/tex]

  • [tex]\small\underline\bold\color {white}{I \: = \:4575.00 \: \div \: 91500}[/tex]

  • [tex]\small\underline\bold\color {white}{I \: = \:0.05 \: \times \: 100}[/tex]

  • [tex]\small\underline\bold\color {white}{I \: = \:5\%}[/tex]

Hence, the interest rate after 3 years is 5%.

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[tex]\tiny\color{darkorange} {{\tt{CarryOnLearning:)}}}[/tex]

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