Question 36

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waecmaths question: 

At what rate percent  will N520.00 yield a simple interest of N39.00 in three years 

Option A: 

4%

Option B: 

$3\tfrac{1}{3}$%

Option C: 

3%

Option D: 

$2\tfrac{1}{2}$%

waecmaths solution: 

$R=\frac{100\times I}{P\times I}=\frac{39\times 100}{520\times 3}=\frac{5}{2}percent=2\tfrac{1}{2}$%

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