SOLUTION: Juan earned Php96.00 on a Php1200 deposit at 2% interest rate. For how long was the money deposited?
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Question 1180862: Juan earned Php96.00 on a Php1200 deposit at 2% interest rate. For how long was the money deposited?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Assuming simple interest 2%
interest = 96
Principal = 1200
interest = P * t * r
96= 1200 *.02*t
t=4 years
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