If the interest on N150.00 for 2\(\frac{1}{2}\) years is N4.50, find the interest on N250.00 for 6 months at the same rate

aanu96

5 years ago

The answer is correct you just have to convert the 2.5 yrs to 30 months,, since the same rate applies to both interest in the question.

DMI

1 year ago

here is the solutionLet's break it down step by step:

Given Information
1. *Principal (P)*: ₦150
2. *Time (T)*: 2.5 years
3. *Interest (I)*: ₦4.50

Calculate Interest Rate (R)
We can use the formula:

I = (P × R × T) / 100

Rearranging to solve for R:

R = (I × 100) / (P × T)

Plugging in the values:

R = (₦4.50 × 100) / (₦150 × 2.5)
= 450 / 375
= 1.2%

Calculate Interest for New Scenario
1. *New Principal (P)*: ₦250
2. *New Time (T)*: 6 months = 0.5 years

Using the same interest rate (R = 1.2%):

I = (P × R × T) / 100
= (₦250 × 1.2 × 0.5) / 100
= ₦1.50

So, the interest on ₦250 for 6 months at the same rate would be ₦1.50.

DMI

1 year ago

my school why is the explanation not shown

Pop-corn

9 years ago

wrong , rather it is:

250*1.2*6

I = ---------- = #18.00

100

Pop-corn

9 years ago

I.E (250*1.2*6)/100

6/5% = 1.2% which is d Rate "R"

Sensei

2 months ago

My school please make the maths hard please I want to be seeing geometry or world problem wtf is this

maduka909paul

11 years ago

dis wrong...d answer is D