A man invested ₦5,000 for 9 months at 4%. What is the simple interest?

Assessment: JAMB UTME - Mathematics - 2011 Subject: General Mathematics

Question 1 Report

A man invested ₦5,000 for 9 months at 4%. What is the simple interest?
Answer Details
S.I. =  P × R × T 100
If T = 9 months, it is equivalent to  9 12  years
S.I. =  5000 × 4 × 9 100 × 12
S.I. = ₦150

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