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BECE Mathematics 2024 Objective — Question 20

Question 20 of 120 from the Basic Education Certificate Examination (Junior WAEC) (BECE) Mathematics 2024 Objective paper, with the correct answer and a full explanation.

If the simple interest on a certain amount for 2 years at 5% per annum is ₦2,400.00, find the principal.

A. ₦15,000.00
B. ₦24,000.00Correct
C. ₦29,000.00
D. ₦36,000.00
E. ₦48,000.00

Explanation

P = (100 x I)/(R x T) = 240000/10 = ₦24,000.

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