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WAEC Mathematics 2026 Question 18

Question 18

Commercial Arithmetic

It takes y years for ₦87,300.00 to amount to ₦99,522.00 at 7% per annum simple interest. Find the value of y

  1. A.2
  2. B.4
  3. C.3
  4. D.5
Show the answer and explanation

Answer: A (2)

Explanation

Interest = 12 222. Each year earns 87 300 × 0.07 = 6111, so y = 12 222 ÷ 6111 = 2.