Answered

At what rate should the amount of Php3,000 be invested to earn a simple interest of Php450 annually?

Sagot :

Mlcparra16id
[tex]Interest=Principal*Rate*Time \\ 450= 3000*Rate*1 \\ \frac{450}{3000} =Rate \\ 0.15=Rate[/tex]

Therefore the rate is 0.15*100=15%
Jers15id
To get the percentage, divide the interest by the amount, simply:

P 450 divided by P 3000 is 0.15

changing to percentage, decimal multiplied by 100, simply:

0.15 x 100 =15%

Hope this helps =)

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