If 480.00 borrowed for 3 years simple interest became N516, what was its rate of

MATHEMATICS
POST UTME UNILORIN

If 480.00 borrowed for 3 years simple interest became N516, what was its rate of interest?

  • A. 5%
  • B. 2 ½ %
  • C. 6%
  • D. 4%

Correct Answer: B. 2 ½ %

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