WHAT WAS THE EXACT SIMPLE INTEREST RATE USING AN APPROXIMATE TIME IF THE AMOUNT OF PHP 15,000 EARNED PHP 2000 FROM JULY 10, 2022 TO AUGUST 20, 2023?
Question
Solution 1
To find the exact simple interest rate, we need to use the formula:
Simple Interest = Principal * Rate * Time
Given: Principal (P) = PHP 15,000 Interest (I) = PHP 2,000
To calculate the time, we need to find the number of days between July 10, 2022, and August 20, 2023.
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Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
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WHAT WAS THE EXACT SIMPLE INTEREST RATE USING AN APPROXIMATE TIME IF THE AMOUNT OF PHP 15,000 EARNED PHP 2000 FROM JULY 10, 2022 TO AUGUST 20, 2023?
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