1. The problem is to find the interest on 5,000 pesos at an interest rate of 6% for 2 years. 2. We use the simple interest formula: $$I = P \times r \times t$$ where $I$ is the interest, $P$ is the principal amount, $r$ is the rate of interest per year (in decimal), and $t$ is the time in years. 3. Convert the interest rate from percentage to decimal: $$r = \frac{6}{100} = 0.06$$ 4. Substitute the values into the formula: $$I = 5000 \times 0.06 \times 2$$ 5. Calculate the interest: $$I = 5000 \times 0.12 = 600$$ 6. Therefore, the interest earned on 5,000 pesos at 6% for 2 years is 600 pesos.