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A man invested P110 000 for 31 days The net interest...

This question belongs to Civil Engineering Engineering Economics
Engineering Economics
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A man invested P110,000 for 31 days. The net interest after deducting 20% withholding tax is P890.36. Find the rate of return annually.

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Correct Answer: Option B
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3 Comments
Español, David
Español, David 3 months ago
From the previous comment

Santosh Yadav:2 years ago
890.36÷0.8 =1112.95
1112.95/31 =35.9 *365 = 13104
13104÷110000=0.1191*100=11.91%
---------—---------------------------------------------------------
Change 365 days to 360 days. 1 bank year = 360
((890.36÷0.8)÷31)(360) = 12924.58065
((12924.58065÷110000))(100) = 11.75
Santosh Yadav
Santosh Yadav 3 years ago
890.36÷0.8 =1112.95
1112.95/31 =35.9 *365 = 13104
13104÷110000=0.1191*100=11.91%
Remar Sabanal
Remar Sabanal 6 years ago
With solution please
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