Answered

Janine’s mother borrowed P35, 000 from a credit union. at the end of 2 years she paid back P38, 200. What was the rate of interest?

Sagot :

principal amount=35000 principalamount+interest=38200 so interest=38200-3500 0=3200 f0r 2yrs then interest for oneyear=1200 that is x%of3500=1200    x/100x35000=1200 =350x=1200 thenx=1200/350   x=3.42857