waecmaths question:
At what rate percent will N520.00 yield a simple interest of N39.00 in three years
Option A:
4%
Option B:
$3\tfrac{1}{3}$%
Option C:
3%
Option D:
$2\tfrac{1}{2}$%
waecmaths solution:
$R=\frac{100\times I}{P\times I}=\frac{39\times 100}{520\times 3}=\frac{5}{2}percent=2\tfrac{1}{2}$%
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