Find the value to which N3000.00 will amount in 5 years at 6% per annum
MATHEMATICS
WAEC 2009
Find the value to which N3000.00 will amount in 5 years at 6% per annum simple interest
- A. N3,900.00
- B. N3,750.00
- C. N3,600.00
- D. N3,300
Correct Answer: A. N3,900.00
Explanation
A = P + I
p + \(\frac{PRT}{100}\)
A = N3000 (1 + \(\frac{6 \times 5}{100}\))
= N3000(1 + 0.3)
A = N3000 (1.3)
= N3,900.00
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