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

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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.

A. 11.50 %

B. 11.75 %

C. 11.95 %

D. 12.32 %

Answer: Option B

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Comments ( 2 )

Santosh Yadav :

2 weeks ago

890.36÷0.8 =1112.95
1112.95/31 =35.9 *365 = 13104
13104÷110000=0.1191*100=11.91%
Remar Sabanal :

3 years ago

With solution please

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