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A man buys an electric fan from a merchant that charges P1,500 at the end of 120 days. The man wishes to pay cash. What is the cash price is money is worth 12% simple interest?

A man buys an electric fan from a merchant that charges P1,500 at the end of 120 days. The man wishes to pay cash. What is the cash price is money is worth 12% simple interest?

Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter7: Applying Fractions
Section7.3: Equations With Fractional Coefficient
Problem 13P
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4. A man buys an electric fan from a merchant that charges P1,500 at the end of 120 days. The man wishes to pay cash. What is the cash price is money is worth 12% simple interest? Given: P = P1,500 i = 12% n = ? I= ? F = ? Solution: n=? 120 n= 365 n=0.33 I=Pin I= 1,500) 0.12 0.33 I=59.4 F=P+I F=1500+59.4
Transcribed Image Text:4. A man buys an electric fan from a merchant that charges P1,500 at the end of 120 days. The man wishes to pay cash. What is the cash price is money is worth 12% simple interest? Given: P = P1,500 i = 12% n = ? I= ? F = ? Solution: n=? 120 n= 365 n=0.33 I=Pin I= 1,500) 0.12 0.33 I=59.4 F=P+I F=1500+59.4
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