A man is required to pay P57,500 at the end of 15 days and for P60,000 at the end of 60 days. Determine the rate of interest.

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section: Chapter Questions
Problem 430PT: Melinda deposited $5,985 in a bank account with an interest rate of 1.9%. How much interest was...
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A man is required to pay P57,500 at the end
of 15 days and for P60,000 at the end of 60 days.
Determine the rate of interest.

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