2015
Mathematics
JAMB
The amount A to which a principal P amounts at r% compound interest for n years is given by the formula A = P(1 + (r ÷ 100)n . Find A, if P = 126, r = 4 and n = 2.
A.
N132.50K
B.
N136.30K
C.
N125.40K
D.
N257.42K
Correct Answer: N136.30K
Explanation
A=P(1+r/100)n Where P = 126, r = 4, n = 2 A=126 (1+4/100)2 Using LCM =126 ((100+4/)100)2 = 126(104/100)2 =126 (1.042) = 126 * 1.04 * 1.04 =136.28 A = 136.30 (approx.) The Amount A, = N136.30k
A=P(1+r/100)n Where P = 126, r = 4, n = 2 A=126 (1+4/100)2 Using LCM =126 ((100+4/)100)2 = 126(104/100)2 =126 (1.042) = 126 * 1.04 * 1.04 =136.28 A = 136.30 (approx.) The Amount A, = N136.30kTHIS WEEK's
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