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UPCAT Mathematics practice question 34: How much simple interest is earned on ₱20,000 invested at 6% per year for 3 years?

Correct answer

C. ₱3,600

I = Prt = 20,000 × 0.06 × 3 = 3,600.

How much simple interest is earned on ₱20,000 invested at 6% per year for 3 years?

  1. ₱1,200
  2. ₱2,400
  3. ₱3,600Correct
  4. ₱23,600

Why C is correct

I = Prt = 20,000 × 0.06 × 3 = 3,600.

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