B. Answer the following word problems.
1. How many years will it take P5 000 reach P5 600 at 3% simple interest per
year?
2. Mrs. Cordova borrowed P8 000 to begin a small sari-sari store at home. If she
paid P10 000 at the end of 4 years, at what rate of simple interest did she pay?
3. Solve for the total worth of an investment after six months at a simple interest
rate of 4.5% with a principal of P15 000.
4. Dariyn borrows P12 000 from her brother at an agreed simple interest rate of
2.5% per year. She will pay back the borrowed amount together with the interest
at the end of 2 years. How much will she have to pay?
5. How long does it take a principal amounting to P70 000 at a simple interest rate
of 5% per year to become P77 500?
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Answer:
1. 4 years
2. 25%
Step-by-step explanation:
Rate: Principal = (100 × Interest)/(Rate × Time)
Therefore, Principal (P) = $ 5000.
1. The 3% of 5000 is 150 and 150x4 is 600 so 5000+600 is 5600
2. 25% because the 25% of 8000 is 2000 and 2000+8000 is 10000