WAEC Mathematics 2025 Objective — Question 7
Question 7 of 51 from the West African Examinations Council (WAEC) Mathematics 2025 Objective paper, with the correct answer and a full explanation.
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An amount of N550,000.00 was realized when a principal, x was saved at 2% simple interest for 5 years. Find the value of x.
- A. N470,000.00
- B. N480,000.00
- C. N490,000.00
- D. N500,000.00Correct
Explanation
Using A = P + I and I = PRT/100: 550,000 - x = (x x 2 x 5)/100 = x/10. So 550,000 = x + x/10 = 11x/10, giving x = 550,000 x 10/11 = N500,000.00.
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