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If P1,000 accumulates to P1,500 when invested at a simple interest for three years, what is the rate of interest? a. 14.12% b. 15.89%

If P1,000 accumulates to P1,500 when invested at a simple interest for three years, what is the rate of interest? a. 14.12% b. 15.89% c. 16.67% d. 16.97%

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