JAMB - Mathematics (1985 - No. 3)
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
N180.00
N165.00
N150.00
N250.00
N200.00
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
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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