Mr. Bacani borrowed money from the bank. He received from the bank P1,842 and promised to repay P2,000 at the end of 10 months. Determine the rate of simple interest?
(A) 12.19 %
(B) 12.03 %
(C) 11.54 %
(D) 10.29 %
Mr. Bacani borrowed money from the bank. He received from the bank P1,842 and promised to repay P2,000 at the end of 10 months. Determine the rate of simple interest?
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Please show solution
Muhammad Sufyan
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