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Popular Word Problems >

at what simple interest rate per annum will P25,000 accumulate to P33,000 in 5 years?

Solution

a t w ha t s im pl e in t eres t r a t e p er ann u m w i ll P 25, 000 a cc u m u l a t e t o P 33, 000 in 5 ye a rs ?

Solution

Rate : 6.4%

Solution steps

Translate the problem into an equation:

33000 = 25000 (1 + r \cdot 5)

Solve for

r, 33000 = 25000 (1 + r \cdot 5) : r = 6.4%

Rate : 6.4%

Popular Examples

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