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.
A. 12.19 %
B. 12.03 %
C. 11.54 %
D. 10.29 %
Answer: Option D
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Related Questions on Engineering Economics
The CRF (ep) is also known as: [CRF(EP) - 8% - 7], where
A. 8% is the rate of interest per year
B. Money is borrowed for n = 7 years
C. Both (A) and (B)
D. Neither (A) nor (B)
A. Sole proprietorship
B. Entrepreneurship
C. Partnership
D. Corporation
A. P 43,600.10
B. P 43,489.47
C. P 43,263.91
D. P 43,763.20
A. Architect/engineer
B. Construction manager
C. Owner himself/herself
D. Construction manager
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