Question 8

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waecmaths question: 

What sum of money will amount to D10, 400 in 5years at 6% simple interest? 

Option A: 

D 8,000.00

Option B: 

D 10,000:00

Option C: 

D12,000:00

Option D: 

D16,000.00

waecmaths solution: 

$\begin{align}  & A=P+I \\ & P=A-I \\ & P=10400-I \\ & I=\frac{P\times T+R}{100} \\ & I=\frac{(10400-I)\times 5\times 6}{100} \\ & 10I=(10400-I)\times 3 \\ & 10I=31200-3I \\ & 13I=31200 \\ & I=\frac{31200}{13}=D2400 \\ & P=D10,400-D2400=D8000 \\\end{align}$

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