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. Chris borrowed from a lender ₱ 10,000.00 to start her planned business at a simple interest of 10 % per month for 1 year. How much did Chris interest pay to the loan?

Sagot :

SIMPLE INTEREST

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[tex]\large\sf\underline{Problem:} [/tex]

  • Chris borrowed from a lender ₱ 10,000.00 to start her planned business at a simple interest of 10 % per month for 1 year. How much did Chris interest pay to the loan?

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[tex]\large\sf\underline{Answer:}[/tex]

[tex] \qquad \qquad \qquad \huge \rm1000[/tex]

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[tex]\large\sf\underline{Solution:}[/tex]

We can solve this problem in which where p is equal to principal, r equal to rate and t is equal to time in the formula of simple interest.

  • [tex]\bold{Formula\:||\:Simple_{Interest} = PRT} [/tex]

  • [tex]\rm Simple_{Interest} = 10,000(0.1) (1) [/tex]

Multiply p and r by t to get the unknown interest. transform the percent of rate into decimal form.

  • [tex]\rm Simple_{Interest} = 10,000(0.1) (1) [/tex]

  • [tex]\rm Simple_{Interest} = 10,000(0.1)[/tex]

  • [tex]\rm Simple_{Interest} = 1,000.00 [/tex]

Hence, Chris pays Php 1,000 at a simple interest to the loan.

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