waecmaths question:
What sum of money will amount to D10, 400 in 5years at 6% simple interest?
Option A:
D 8,000.00
Option B:
D 10,000:00
Option C:
D12,000:00
Option D:
D16,000.00
waecmaths solution:
$\begin{align} & A=P+I \\ & P=A-I \\ & P=10400-I \\ & I=\frac{P\times T+R}{100} \\ & I=\frac{(10400-I)\times 5\times 6}{100} \\ & 10I=(10400-I)\times 3 \\ & 10I=31200-3I \\ & 13I=31200 \\ & I=\frac{31200}{13}=D2400 \\ & P=D10,400-D2400=D8000 \\\end{align}$
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