Question 1189713
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At what rate was P2160 invested if it earned P35.00 for 115 days?
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<pre>
Use the formula for simple interest account

    I = P*r*t.


Substitute the given data into the formula

    35.00 = {{{2160*r*(115/365)}}}.


From this equation find the only unknwn r = {{{35/(2160*(115/365))}}} = 0.051429 = 5.1429%.    <U>ANSWER</U>
</pre>

Solved.


I assumed 365 days in an year. 


You may use the number of 360 instead of 365, too, getting the rate very close to 5% = 0.05.


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To see many other similar &nbsp;(and different) &nbsp;solved problems on simple interest accounts, &nbsp;look into the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Simple-interest-percentage-problems.lesson>Simple interest percentage problems</A> 

in this site.



Learn the subject from there.