WAEC Mathematics 2016 Objective — Question 8
Question 8 of 50 from the West African Examinations Council (WAEC) Mathematics 2016 Objective paper, with the correct answer and a full explanation.
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8. What sum of money will amount to D10,400.00 in 5 years at 6% simple interest? A. D8,000.00 B. D10,000.00 C. D12,000.00 D. D16,000.00
- A. D8,000.00Correct
- B. D10,000.00
- C. D12,000.00
- D. D16,000.00
Explanation
P = A/(1+RT/100) = 10400/1.3 = D8,000.00.
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