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It is the practice of almost all banks in the Philippines that when they grant a loan, the interest for one year is automatically, deducted from the principal amount upon released of money to the borrower. Let us therefore assume that you applied for a loan with a bank and the amount of 80 000 was approved at an interest rate of 14 percent of which or 11 200 was deducted and you were given a check of 68 800. Since you have to pay the amount of 80 000 one year after, what then will be the effected interest rate?
I=16.28%
A man deposit 10 000 at 12 percent simple interest. what is the future amount after 5 years and 5 months using ordinary simple interest.
F=16 500
A worker borrowed money on April 20, 1996 and promised to pay 18 000 on February 20, 1997 with 16 percent interest. Determine the money he borrowed using exact interest.
P=15 871
If you got a character loan of 10 000 from a bank with 18 percent interest per annum, how much interest would you have paid in one year?
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If the future amount is 50 percent more than the principal after 10 months, determine the simple interest rate.
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A man applied for a loan with 16% interest. The interest will be automatically deducted from the loan at the time the money is released, and after one year will have to pay the same amount as stated in the loan. Determine the interest actually charge to him.
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John wanted to buy refrigerator which will have a price of 15 000 for 100 days from now due to the increase in price of refrigerator of 12% simple interest. What is the increase in price of refrigerator.
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A man borrowed 20 000 and promised to to pay an amount of 21 500 with simple interest of 20%. How many days did charge to him to pay his debt?
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In a loan with 20% simple interest, the future amount is 2000 more than the principal after one year. What is the principal amount?
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If the future is 25% more than the principal after 8 months, determine the simple interest rate.
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