Question

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

Answer 1

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%