Question 4
Commercial ArithmeticA man invested N5,000 for 9 months at 4%. What is the simple interest?
- A.N150
- B.N220
- C.N130
- D.N250
Show the answer and explanation
Answer: A (N150)
Explanation
I = PRT/100 = 5000 × 4 × (9/12)/100 = N150.
A man invested N5,000 for 9 months at 4%. What is the simple interest?
Answer: A (N150)
I = PRT/100 = 5000 × 4 × (9/12)/100 = N150.