Question 21

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Jambmaths question: 

If the interest on N150.00 is N4.50, find the interest on N250.00 for 6 months at the same rate

Option A: 

N15.00

Option B: 

N1.50

Option C: 

N18.00

Option D: 

N7.50

Jamb Maths Solution: 

First obtain the interest rate on N150.00$R=\frac{I\times 100}{P\times T}=\frac{4.50\times 100%}{150\times \tfrac{5}{2}}=\frac{4.50\times 100%\times 2}{150\times 5}=\frac{6}{5}percent$The interest on N250.00 at $\frac{6}{5}percent$ for ½ year (6month) will be$I=\frac{P\times R\times T}{100}=\frac{250\times 0.5\times \tfrac{6}{5}percent}{100}=\frac{250}{100}\times \frac{1}{2}\times \frac{6}{5}=N\frac{6}{4}=N1.50$

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