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A man invested N5,000 for 9 months at 4%. What is the simple interest?

Mathematics
JAMB 2011

A man invested N5,000 for 9 months at 4%. What is the simple interest?
  • A. N150
  • B. N220
  • C. N130
  • D. N250
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Correct Answer: Option A
Explanation
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. = N150

There is an explanation video available below.


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Explanation Video

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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free