SOLUTION: Rebecca lent an amount of P49,427.61 to her cousin, Ashley, on May 3, 2008. Upon giving the funds, she told her cousin that the money had to be returned on October 27, 2009, using

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Rebecca lent an amount of P49,427.61 to her cousin, Ashley, on May 3, 2008. Upon giving the funds, she told her cousin that the money had to be returned on October 27, 2009, using       Log On

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Question 1127821: Rebecca lent an amount of P49,427.61 to her cousin, Ashley, on May 3, 2008. Upon giving the funds, she told her cousin that the money had to be returned on October 27, 2009, using exact simple interest. If the total amount that Ashley returned was P53,695.40, what was the discount rate?
Pls help me on this
Answer by ikleyn(52781) About Me  (Show Source):
You can put this solution on YOUR website!
.
The question asks for the "discount rate", but the problem condition has no any info to determine it;
the condition ever does not mention this term "the discount rate".

So, I conclude that the question is not relevant to the given part,  and,  reversely,
the given part is not relevant to the question.


Shortly saying,  the problem,  as it is posted,  presented and worded,  is  DEFECTIVE.


Next time be more attentive,  please.


Have a nice day / evening / night / morning.