Miss Evilla borrowed money from a bank. She receives from the bank P1,340.00 and promised to pay P1,500.00 at the end of 9 months. Determine the corresponding discount rate or often referred to as the “banker’s discount”?

A. 13.15 %

B. 13.32 %

C. 13.46 %

D. 13.73 %Correct Answer

Correct Option: D. 13.73 %

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