1. Vince earns 3% commission in selling Property. This month, he received a total commission of ₱11 400 for selling parcel of lot. How much is the cost of the property he sold?
2. A certain bank charges a simple interest rate of N% per annum for loans. Rose loaned ₱ 40 000 and paid a total amount of ₱44 800 after 2 years. How much is the interest rate of this bank?
2. A certain bank charges a simple interest rate of N% per annum for loans. Rose loaned ₱ 40 000 and paid a total amount of ₱44 800 after 2 years. How much is the interest rate of this bank?
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Answer:
1) 380,000
2) 4,800
Step-by-step explanation:
1) 3%380,000=11,400
2) 44,800-40,000=4,800