Question 24

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waecmaths question: 

If the simple interest on a sum of money invested at 3% per annum for 2½ years in N123. Find the principal

Option A: 

N676.50

Option B: 

N820.00

Option C: 

N1,640.00

Option D: 

 N4,920.0

waecmaths solution: 

$P=\frac{I\times 100}{T\times R}=\frac{100\times 123}{3\times \tfrac{5}{2}}=\frac{100\times 123\times 2}{3\times 5}=N1640$

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