document.write( "Question 1184705: At what simple interest rate was P312,000 invested if it earned an interest of P24,102 just after 1.5 yrs?
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Algebra.Com's Answer #815337 by ikleyn(52803) $\"\"$ $\"About$

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document.write( "Use the base formula\r\n" );
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document.write( "    I = P*r*t,\r\n" );
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document.write( "where I is the interest, P is the principal, r is the annual simple interest rate, t is the time.\r\n" );
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document.write( "From the formula,\r\n" );
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document.write( "    r =  =  = 0.0515 = 5.15%.    ANSWER\r\n" );
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\n" ); document.write( "\n" ); document.write( "To see many other similar (and different) solved problems on simple interest accounts, look into the lesson\r
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