WAEC Mathematics 2013 Objective — Question 7
Question 7 of 50 from the West African Examinations Council (WAEC) Mathematics 2013 Objective paper, with the correct answer and a full explanation.
Advertisement
If ₦2,500.00 amounted to ₦3,500.00 in 4 years at simple interest, find the rate at which the interest was charged.
- A. 5%
- B. 7½%
- C. 8%
- D. 10%Correct
Explanation
I = PRT/100. I=1000, P=2500, T=4. 1000 = (2500×R×4)/100 = 100R. R = 10%.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.