Reference no: EM132863037

Problem 1. how much will be paid if Mr. A borrowed P10,000 at 10% simple interest for 5 years

Problem 2. How much is the interest if Mr. B. deposited P500,000 in a bank for one year and 3 months at 8.75% simple interest.

Problem 3. Mr. C wants his P50,000 to double after 10 years. At what simple interest rate would this yield become possible?

Problem 4. How much was deposited one year ago at the rate of 7.5% simple if the depositor received an interest of P1,350?

Problem 5. If the fund was P70,000 a year ago (now P77,000), what was the simple interest rate used in the computation of the interest?

Problem 6. Mr X received a bank discount note of P100,000 at simple interest of 8% for one year. After 5 months, Mr. X had the note discounted by Metro Bank at 9%. How much interest income did Mr. X earn from his customer? On the other hand, how much did the customer incur as interest expense on his transaction? Likewise, how much is the interest income did the bank earn from the discounting transaction?