passwella.
Menu

WAEC Mathematics 2007 Question 36

Question 36

Commercial Arithmetic

At what rate per cent per annum will N520.00 yield a simple interest of N39.00 in three years?

  1. A.4%
  2. B.3½%
  3. C.3%
  4. D.2½%
Show the answer and explanation

Answer: D (2½%)

Explanation

R = 100I/(PT) = (100 × 39)/(520 × 3) = 3900/1560 = 2.5%.