The exact simple interest of P5,000 invested from June 21, 1995 to December 25, 1995 is P100. What is the rate of interest?
A. 3.90 %
B. 3.92 %
C. 3.95 %
D. 3.98 %
Answer: Option A
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The exact simple interest of $5,000 invested from June 21, 1995 to December 25, 1995 is $100. What is the rate of interest?
How did you calculate it?