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WAEC SSCE - General Mathematics - 2009 (Objective)

Swali 1 Ripoti

Find the value to which N3000.00 will amount in 5 years at 6% per annum simple interest
Maelezo ya Majibu
Simple interest is calculated as the product of the principal, the rate of interest, and the time duration. From the question, we have a principal of N3000.00, an interest rate of 6%, and a duration of 5 years. Using the formula for simple interest, we can find the interest accrued over the 5 years as: Interest = (P * R * T) / 100 = (3000 * 6 * 5) / 100 = N900.00 The total value to which N3000.00 will amount to after 5 years is the sum of the principal and the interest, which is: Total = Principal + Interest = 3000 + 900 = N3900.00 Therefore, N3000.00 will amount to N3900.00 after 5 years at 6% per annum simple interest. So the correct answer is option A, N3,900.00.
Soma maelezo ya somo kwenye Modular Arithmetic (WAEC)
Soma maelezo ya somo kwenye Ratio, Proportions And Rates (WAEC)
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