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a sum of money was invested at 8% per annum simple interest. If after 4...

Mathematics
JAMB 1985

a sum of money was invested at 8% per annum simple interest. If after 4 years the money amounts to N330.00. Find the amount originally invested

  • A. N180.00
  • B. n165.00
  • C. N150.00
  • D. N250.00
  • E. N200.00
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Correct Answer: Option D
Explanation

S.I = \(\frac{PTR}{100}\)

T = 4yrs, R = 8%, a = N330.00

330 - P = \(\frac{PTR}{100}\), A = P + I

i.e. A = P + \(\frac{PTR}{100}\)

330 = P + \(\frac{P(4) (8)}{100}\)

33000 = 32P + 100p

132P = 33000

P = N250.00


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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Join your school's WhatsApp group