2021
Mathematics
JAMB
At what rate would a sum of N100.00 deposited for 5 years raise an interest of N7.50?
A.
1/2 %
B.
2(1/2)%
C.
1.5%
D.
25%
Correct Answer: 1.5%
Explanation
Interest I = PRT/100 ∴ R = (100n×n1)/(100 × 5) = (100 × 7.50)/(500 × 5) = 750/500 = 3/2 = 1.5%
Interest I = PRT/100 ∴ R = (100n×n1)/(100 × 5) = (100 × 7.50)/(500 × 5) = 750/500 = 3/2 = 1.5%THIS WEEK's
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