JAMB - Mathematics (2011 - No. 3)
A man invested N5,000 for 9 months at 4%. What is the simple interest?
N150
N220
N130
N250
Explanation
S.I. = \(\frac{P \times R \times T}{100}\)
If T = 9 months, it is equivalent to \(\frac{9}{12}\) years
S.I. = \(\frac{5000 \times 4 \times 9}{100 \times 12}\)
S.I. = N150
If T = 9 months, it is equivalent to \(\frac{9}{12}\) years
S.I. = \(\frac{5000 \times 4 \times 9}{100 \times 12}\)
S.I. = N150
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