P naira invested for 4 years invested for 4 years at r% simple interest per
MATHEMATICS
WAEC 2008
P naira invested for 4 years invested for 4 years at r% simple interest per annum yields 0.36 p naira interest. Find the value of r
- A. 1\(\frac{1}{9}\)
- B. 1\(\frac{4}{9}\)
- C. 9
- D. 11
Correct Answer: C. 9
Explanation
I = \(\frac{PRT}{100}\)
where r = r% p.a; I = 0.36p
0.36p = \(\frac{P \times r \times 4}{100}\)
\(\frac{0.36 \times 100}{4}\) = r
r = 9
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