Question

SHEET OF PAPER. 1. At what simple interest rate per annum will P25,000 accumulate to P33,000 in 5 years? solution.

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Answer 1

Answer:

let the rate R=x%per annum

given P=25000

A=33000

T=5years

we know that S.l =A-P

so S.l=33000-25000

=8000

and also

S.l=P*R*T/100

so 8000=25000*5*x/100

800=125x

x=800/125

x =6.4

Answer 2

Answer:

interest = accumulate -principal=

33000 - 25000 = 8000 interest =

principal * time * rate

(simple intreste) 8000 =

25000* 5 * rate = (8000) / (25000 * 5)

rate = 8000/125000

rate = 0.064 or 64%