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JAMB Mathematics 1993 Question 8

Question 8

Commercial Arithmetic

If N225.00 yields N27.00 in x year simple interest at the rate of 4% per annum, find x.

  1. A.3
  2. B.4
  3. C.12
  4. D.27
Show the answer and explanation

Answer: A (3)

Explanation

Simple interest = PRT/100, so 27 = 225 × 4 × x/100 = 9x, giving x = 3 years.