1 Answers
If the interest of N150.00 for 2 ½ years is N4.50, Find the…
Quick Navigation Panel
hide
Latest posts by Admin (see all)
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:
- Option A is correct.
- Option B is incorrect.
- C is incorrect.
- 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.
- If you love our answers, you can login to comment and say hi to us at the comment section…
To raise new related questions, click the ASK A QUESTION BOTTON down this page…
/ culled from 2020 JAMB-UTME mathematics past question 34 /