An amount of P2,000 is borrowed for 3 years. At the end of the three years, 12,660 is paid back. What was the simple interest rate? The base price of a shirt exclusive of value added tax is P724. If the value added tax is 12% of the goods sold, how much is the selling price of the shirt? Commission on a house sold in a subdivision is at 5%. How much commission will you earn if you sold a house worth 2 million pesos?
Answer (1)
Answer:Simple Intrest Rate: 177.67%Selling Price: 810.88 PhpCommission: 100,000 PhpStep-by-step explanation:SIMPLE INTEREST RATEYour givens are the following:Principal: 2000Time: 3 yearsFinal: 12,660STEP 1: Find the interest.How or What is the formula?Final - Principal = 12,660 - 2000, giving us 10,660STEP 2: Find the rate with the interest formula.FORMULA; P x R x TSolution: 2000 x R x 3 6000R Divide this by 10,660ANSWER : 177.67%SELLING PRICEGiven:Base Price: 724 PhpVAT: 12% of base724 × 0.12 = 86.88 Note: Percentage to Decimal724 + 86.88 = ANSWER ; 810.88 PhpCOMMISSION2,000,000 x 0.05 = 100,000
