Question 1 Report
At what rate would a sum of N100.00 deposited for 5 years raise an interest of N7.50?
Answer Details
nterest I = PRT100 P R T 100 ∴ R = 100×1100×5 100 × 1 100 × 5 = 100×7.50500×5 100 × 7.50 500 × 5 = 750500 750 500 = 32 3 2 = 1.5%
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