If N225.00 yields N27.00 in x years simple interest at the rate of 4% per...

Mathematics

JAMB 1993

If N225.00 yields N27.00 in x years simple interest at the rate of 4% per annum, find x

A. 3
B. 4
C. 12
D. 17

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Correct Answer: Option A

Explanation

Principal = N255.00, Interest = 27.00

year = x Rate: 4%

∴ 1 = \(\frac{PRT}{100}\)

27 = \(\frac{225 \times 4 \times T}{100}\)

2700 = 900T

T = 3 years

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If N225.00 yields N27.00 in x years simple interest at the rate of 4% per...

Correct Answer: Option A

Explanation

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