Mathematics
WAEC 2008
P naira invested for 4 years invested for 4 years at r% simple interest per annum yields 0.36 p naira interest. Find the value of r
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A.
1\(\frac{1}{9}\)
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B.
1\(\frac{4}{9}\)
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C.
9
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D.
11
Correct Answer: Option C
Explanation
I = \(\frac{PRT}{100}\)
where r = r% p.a; I = 0.36p
0.36p = \(\frac{P \times r \times 4}{100}\)
\(\frac{0.36 \times 100}{4}\) = r
r = 9
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