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What simple interest rate is the company using

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Reference no: EM132812320

Problem 1. A lending company charged its client P2,750 on a loan of P15,800 for 2 years and 3 months. What simple interest rate is the company using?

Problem 2. Three months after borrowing money, PJ pays an interest of P250. How much did he borrow if the simple interest rate was 5 ½ %?

Reference no: EM132812320

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