Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Mr. Bacani borrowed money from the bank. He received from the bank P1,842 and promised to repay P2,000 at the end of 10 months. Determine the rate of simple interest?

/ Engineering Economy / By
Mr. Bacani borrowed money from the bank. He received from the bank P1,842 and promised to repay P2,000 at the end of 10 months. Determine the rate of simple interest?

A. 12.19 %
B. 12.03 %
C. 11.54 %
D. 10.29 %