4. A time deposit of Php110,000.00 for 31 days earns Php890.39 on maturity date after deducting the 20% withholding tax on interest income. Find the interest rate per annum. a)12.5% b) 12.25% c) 11.75% d) 11.95% 5. Mr. Reyes borrowed from the bank. He received Php1,842.00 and promise to repay Php2,000 at the end of ten months. Determine the simple interest rate. a) 19.45% b) 15.70% c) 16.10% d) 10.29%

4. A time deposit of Php110,000.00 for 31 days earns Php890.39 on maturity date after deducting the 20% withholding tax on interest income. Find the interest rate per annum. a)12.5% b) 12.25% c) 11.75% d) 11.95% 5. Mr. Reyes borrowed from the bank. He received Php1,842.00 and promise to repay Php2,000 at the end of ten months. Determine the simple interest rate. a) 19.45% b) 15.70% c) 16.10% d) 10.29%

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 8DQ

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