If the interest of N150.00 for 2 ½ years is N4.50, Find the interest on N250.00 for 6 months at the same rate?

A. N1.50

B. N7.50

C. N15.00

D. N18.00

QUICK ANSWER…

A

DETAILS…

We will have to firstly determine the rate from the first case and then use this same rate to solve for the interest on the second case.

Simple interest = PRT/100

Where P = principal

R = rate in %

T = time in years

For the first case:

Interest = 4.5

P = 150

R = ?

T = 2.5

But interest = PRT/100

4.5 = (150 × R × 2.5)/100

4.5 = 375R/100

4.5 × 100 = 375R

450 = 375R

R = 450/375 = 1.2%

For the second case:

Interest = ?

P = 250

R = 1.2

T = 6 months = 0.5 years

Again, simple interest = PRT/100

Simple interest = (250 × 1.2 × 0.5)/100

= 150/100

= N1.50

Now for the right answer to the above question:

1. Option A is correct.
2. Option B is incorrect.
3. C is incorrect.
4. D is not the correct answer.

KEY-POINTS…

You may please note these/this:

• The steps are clear…
• Firstly, make x the subject of the divisor.
• Secondly, substitute x for p into the original expression.
• Thirdly, we will be left with an equation containing only p, then solve to find p.
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/ culled from 2020 JAMB-UTME mathematics past question 34 /