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1. Hassan loans from a loan firm an amount of P100,000 with a rate of simple interest of 20% but the interest was deducted from the loan at the time the money was borrowed. If at the end of one year, he has to pay the full amount of P100,000, what is the actual rate of interest? A. 23.5% B. 24.7% C. 25.0% D. 25.8% EBC: 000

1. Hassan loans from a loan firm an amount of P100,000 with a rate of simple interest of 20% but the interest was deducted from the loan at the time the money was borrowed. If at the end of one year, he has to pay the full amount of P100,000, what is the actual rate of interest? A. 23.5% B. 24.7% C. 25.0% D. 25.8% EBC: 000

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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1. Hassan loans from a loan firm an amount of P100,000 with a rate of simple interest of 20% but the interest was deducted from the loan at the time the money was borrowed. If at the end of one year, he has to pay the full amount of P100,000, what is the actual rate of interest? A. 23.5% B. 24.7% C. 25.0% D. 25.8% TP5 000 mais for
Transcribed Image Text:1. Hassan loans from a loan firm an amount of P100,000 with a rate of simple interest of 20% but the interest was deducted from the loan at the time the money was borrowed. If at the end of one year, he has to pay the full amount of P100,000, what is the actual rate of interest? A. 23.5% B. 24.7% C. 25.0% D. 25.8% TP5 000 mais for
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