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August 20th, 2017, 04:43 AM  #1 
Newbie Joined: Aug 2017 From: Davao Posts: 9 Thanks: 0  Engineering Economy
Determine the ordinary simple interest on P5000 for 9 months and 10 days if the rate of interest is 12 %.

August 20th, 2017, 05:16 AM  #2 
Senior Member Joined: May 2016 From: USA Posts: 1,038 Thanks: 423 
Is this a school problem or a practical problem?

August 20th, 2017, 05:20 AM  #3 
Newbie Joined: Aug 2017 From: Davao Posts: 9 Thanks: 0 
school problem sir

August 20th, 2017, 06:12 AM  #4 
Senior Member Joined: May 2016 From: USA Posts: 1,038 Thanks: 423 
OK. You should have been given a formula relating simple interest due, time, and principal. Were you? If so what is it? What is a little tricky in this problem is that you have been given an interest rate for years and a time period not measured in years. What might we do about that? 
August 20th, 2017, 09:05 AM  #5 
Member Joined: Jan 2017 From: California Posts: 80 Thanks: 8 
You can prorate that


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