Answered: A PRICE TAG OF P2,600.00 IS PAYABLE IN…

A PRICE TAG OF P2,600.00 IS PAYABLE IN 60 DAYS BUT IF PAID WITHIN 30 DAYS IT WILL HAVE A 4% DISCOUNT. FIND THE RATE OF INTEREST. O a. 50% O b. 60% Or 53%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A PRICE TAG OF P2,600.00 IS PAYABLE IN 60 DAYS BUT IF PAID WITHIN 30 DAYS IT WILL HAVE A 4% DISCOUNT. FIND THE RATE
OF INTEREST.
O a. 50%
O b. 60%
О с.
O d. 55%
53%

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