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

₦150

₦220

₦130

₦250

Answer Details

S.I. = $\frac{P \times R \times T}{100}$
If T = 9 months, it is equivalent to $\frac{9}{12}$ years
S.I. = $\frac{5000 \times 4 \times 9}{100 \times 12}$
S.I. = ₦150

Read lesson note on Ratio, Proportions And Rates (WAEC)

Read lesson note on Financial Arithmetic (WAEC)

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Financial Arithmetic

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