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

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

User Yaloner
by
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1 Answer

3 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

6%

User Tuan Vu
by
9.2k points
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