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WAEC Mathematics 2008 Question 5

Question 5

Commercial Arithmetic

P naira invested for 4 years at r % simple interest per annum yields 0.36 P naira interest. Find the value of r.

  1. A.1 1/9
  2. B.1 4/9
  3. C.9
  4. D.11
Show the answer and explanation

Answer: C (9)

Explanation

I = PRT/100: P × r × 4/100 = 0.36P, so 4r = 36 and r = 9.