Answer:

1) You deposit some money into a bank account paying 10% simple interest per year. You received P15,000 in interest after 2 years. How much was the deposit?

2) A businessman deposited P270,000 into his bank account and received P45,000 simple interest after 5 years. What had been the interest rate?

3) How long will it take for P33,500 in a coop bank with 30% annual interest rate to earn P4,500 as interest?

Step-by-step explanation:

1) GIVEN: Is = P15,000

r = 10% = 0.10

t = 2

FIND: P

SOLUTION:

P = ls/(r•t)

= 15,000/(0.10•2)

= 15,000/0.20

P = 75,000

2) GIVEN: P = P270,000

Is = P45,000

t = 5

FIND: r

SOLUTION:

r = Is/(P•t)

= 45,000/(270,000•5)

= 45,000/1,350,000

= 0.0333 ---> pls put a line on top of 333

r = 3.33%

3) GIVEN: P = P33,500

r = 30% = 0.30

Is = P4,500

FIND: t

SOLUTION:

t = Is/(P•r)

= 4,500/(33,500•0.30)

= 4,500/10,050

t = 0.4478

t = 5 months and 12 days