Problem Statement: Engineering Economics
Simple Interest Problem SolvingIn buying a computer disk, the buyer was offered the options of paying P250 cash at the end of 30 days or P270 at the end of 120 days. At what rate is the buyer paying simple interest if he agree to pay at the end of 120 days?
A. 32%
B. 28%
C. 40%
D. 25%
Problem Answer:
The buyer paying simple interest rate is equal to 32%.
View Solution:
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