Mathematics
JAMB 2013
Calculate the time taken for N3000 to earn N600 if invested at 8% simple interest
-
A.
2\(\frac{1}{2}\) years
-
B.
3 years
-
C.
3\(\frac{1}{2}\) years
-
D.
1\(\frac{1}{2}\) years
Correct Answer: Option A
Explanation
Using \(S.I =\frac{P \times T \times R}{100}\)
\(600 =\frac{3000 \times T \times 8}{100}\)
\(T =\frac{600 \times 100}{3000 \times 8}\)
\(\frac{20}{8}\)
= 2\(\frac{1}{2}\) years
There is an explanation video available below.
Report an Error
Ask A Question
Download App
Explanation Video
Quick Questions
Contributions ({{ comment_count }})
Please wait...
Modal title
Report
Block User
{{ feedback_modal_data.title }}