A man invested P110,000 for 31 days. The net interest after deducting 20% withholding tax is P890.36. Find the rate of return annually.

A man invested P110,000 for 31 days. The net interest after deducting

1.	A man invested P110,000 for 31 days. The net interest after deducting 20% withholding tax is P890.36. Find the rate of return annually.
A.	11.50 %
B.	11.75 %
C.	11.95 %
D.	12.32 %
Answer» C. 11.95 %

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A man invested P110,000 for 31 days. The net interest after deducting 20% withholding tax is P890.36. Find the rate of return annually.

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