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BECE Mathematics 2024 Objective — Question 22

Question 22 of 120 from the Basic Education Certificate Examination (Junior WAEC) (BECE) Mathematics 2024 Objective paper, with the correct answer and a full explanation.

Find the simple interest on ₦15,000.00 deposited for 2 1/2 years at 5 1/2 % per annum.

A. ₦257.81
B. ₦515.63
C. ₦1031.25
D. ₦2062.50Correct
E. ₦4125.00

Explanation

15000 x 5.5 x 2.5 / 100 = ₦2062.50.

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