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calculate the simple interest on N7,500 for 8 years at 5% per annum.

Mathematics
JAMB 2008

calculate the simple interest on N7,500 for 8 years at 5% per annum.

  • A. N3,000
  • B. N600
  • C. N300
  • D. N150
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Correct Answer: Option A
Explanation

\(I = \frac{P \times T \times R}{100}\\
=\frac{7500 \times 8 \times 5}{100}\\
=N3000\)

There is an explanation video available below.


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Explanation Video

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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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