2. For a 5-6 loan, it someone borrows P5, has to repay it with P6.00. The difference is the interest and as percent of the loan amount is equal to 20%. Consider this loan: P1,000 repaid over 40 days at P30 per day. a. Compute the total amount of interest paid for 40 DAYS. b. How much is the total amount paid for 40 DAYS. C. What is the interest rate in just 40 days? d. What is the interest rate per annum? Given 360 days in a year and simple interest method is used? 2. For a 5-6 loan, it someone borrows P5, has to repay it with P6.00. The difference is the interest and as percent of the loan amount is equal to 20%. Consider this loan: P1,000 repaid over 40 days at P30 per day. a. Compute the total amount of interest paid for 40 DAYS. b. How much is the total amount paid for 40 DAYS. C. What is the interest rate in just 40 days? d. What is the interest rate per annum? Given 360 days in a year and simple interest method is used