Mr. Lim borrowed P30,000 to open a shop. If the interest rate was 15% per year.
17-18) How much is the interest? 
19-20) How much would he have to pay back at the end of the year?
17-18) How much is the interest? 
19-20) How much would he have to pay back at the end of the year?
Answers & Comments
Answer:
17-18) The interest would be P4,500. This can be calculated by multiplying the P30,000 loan amount by the 15% interest rate:
30,000 * 0.15 = 4,500.
19-20) If Mr. Lim borrowed P30,000 with an interest rate of 15% per year, at the end of the year he would have to pay back
P30,000 + (P30,000 x 15%) = P30,000 + P4,500 = P34,500.