Jambmaths question:
The simple interest on ₦8550 for 3 years at x% per annum is ₦4890. Calculate the value of x to the nearest whole number.
Option A:
19%
Option B:
20%
Option C:
25%
Option D:
16.3%
Jamb Maths Solution:
$\begin{align} & Rate=\frac{P\times T}{I\times 100} \\ & x=\frac{I\times 100}{P\times T}=\frac{4890\times 100}{8550\times 3} \\ & x\approx 19percent \\\end{align}$
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