What interest rate would yield P1,200 interest on P10,000 in 2 years?

Jenry asked Aug 13, 2023

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Jenry asked Aug 13, 2023

by Jenry

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11 votes

beLet the interest rate is r%

By question

$\begin{gathered} 10000*(r)/(100)*2=1200 \\ 2*100* r=1200 \\ r=(1200)/(200) \\ r=6 \end{gathered}$

So the interest rate is

Trigger answered Aug 18, 2023

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