Example 6 A person requires a loan of R10 000. The bank offers a simple interest rate of 15% p.a.. If the person pays a total of R750 interest at the end of the loan period, what was the loan period?
Example 6 A person requires a loan of R10 000. The bank offers a simple interest rate of 15% p.a.. If the person pays a total of R750 interest at the end of the loan period, what was the loan period?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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