Ryan borrowed ₱18,000 with 10% interest rate in a bank. If he gets an interest of ₱900. How many years will he be paying his loan?
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Ryan borrowed ₱18,000 with 10% interest rate in a bank. If he gets an interest of ₱900. How many years will he
Verified answer
SIMPLE INTEREST
Given
T = I / PR
T = ₱900 / (₱ 18,000)(0.1)
T = ₱900 / ₱1,800
T = 0.5 years
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