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WAEC Mathematics 2009 Question 5

Question 5

Commercial Arithmetic

Find the value to which N3000.00 will amount in 5 years at 6% per annum simple interest.

  1. A.₦3,900.00
  2. B.₦3,750.00
  3. C.₦3,600.00
  4. D.₦3,300.00
Show the answer and explanation

Answer: A (₦3,900.00)

Explanation

Interest = 3000 × 6 × 5/100 = ₦900, so the amount is ₦3,900.00.