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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