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03-11-2022
Mathematics

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Gene bought a living room suite for P85,000. He agreed to pay in 5 months at 12% simple interest rate. How much will he pay for the furniture?

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MohmedR294578 MohmedR294578

03-11-2022

Given the cost of the room 85000.

Rate of interest 12%

time =5 months=5/12 year

IN 5 months he will pay as interest

[tex]85000\times\frac{12}{100}\times\frac{5}{12}=4250[/tex]

In total, he will pay

[tex]85000+4250=89250[/tex]

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