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Unilorin Post-UTME Mathematics 2022 (Model questions) Question 1

Question 1

Commercial Arithmetic

Find the simple interest on ₦225 in 5 years at 10%.

  1. A.₦108.00
  2. B.₦224.00
  3. C.₦112.50
  4. D.₦167.60
Show the answer and explanation

Answer: C (₦112.50)

Explanation

I = PRT/100 = 225 × 10 × 5 ÷ 100 = ₦112.50.