Question 5

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waecmaths question: 

Find the value to which N3000.00 will amount to in 5 years at 6% per annum simple interest

Option A: 

N3,900.00

Option B: 

N3,750.00

Option C: 

N3,600.00

Option D: 

N3,300.00

waecmaths solution: 

$\begin{align}  & I=\frac{P\times R\times T}{100}=\frac{3000\times 5\times 6}{100}=900 \\ & I=N900 \\ & Amount=P+I \\ & Amount=N3000+N900=N3900 \\\end{align}$

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