JAMB Mathematics 2025 Objective — Question 33
Question 33 of 40 from the Joint Admissions and Matriculation Board (JAMB) Mathematics 2025 Objective paper, with the correct answer and a full explanation.
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A sum of ₦10,000 is invested at 5% per annum compound interest. What is the amount after 3 years?
- A. ₦11,576.25Correct
- B. ₦11,250
- C. ₦12,000
- D. ₦10,500
Explanation
A=P(1+r)^t = 10000(1.05)³ = 10000×1.157625 = ₦11,576.25.
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