WAEC - Mathematics (2009 - No. 5)
Find the value to which N3000.00 will amount in 5 years at 6% per annum simple interest
N3,900.00
N3,750.00
N3,600.00
N3,300
Explanation
A = P + I
p + \(\frac{PRT}{100}\)
A = N3000 (1 + \(\frac{6 \times 5}{100}\))
= N3000(1 + 0.3)
A = N3000 (1.3)
= N3,900.00
p + \(\frac{PRT}{100}\)
A = N3000 (1 + \(\frac{6 \times 5}{100}\))
= N3000(1 + 0.3)
A = N3000 (1.3)
= N3,900.00
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