Benchie borrowed P500,000.00 from a cooperative and agreed to pay the loan at the end of a month. The cooperative discounted the loan and gave him P450,000 in each. What is the rate of discount? a. 12% b. 15% c. 20% d. 10%
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Benchie borrowed P500,000.00 from a cooperative and agreed to pay the loan at the end of a month. The cooperative discounted the loan and gave him P450,000 in each. What is the rate of discount?
a. 12%
b. 15%
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