Miss Evilla borrowed money from a bank. She receives from the bank P1,340.00 and promised to pay P1,500.00 at the end of 9 months. Determine the corresponding discount rate or often referred to as the “banker’s discount”?

Civil Engineering Mcqs

Miss Evilla borrowed money from a bank. She receives from the bank P1,340.00 and promised to pay P1,500.00 at the end of 9 months. Determine the corresponding discount rate or often referred to as the “banker’s discount”?

(A)  13.15 %

(B)  13.32 %

(C)  13.46 %

(D)  13.73 %

Submitted By :Ali Uppal

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