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MATHEMATICS

JAMB 2011 - Question 4

Mathematics 2011 JAMB Past Questions - Question 4: A man invested N5,000 for 9 months at 4%. What is the simple interest?

A man invested N5,000 for 9 months at 4%. What is the simple interest?

A: N150

B: N220

C: N130

D: N250

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Correct Answer

Explanation

S.I. = P×R×T/100If T = 9 months, it is equivalent to 9/12 yearsS.I. = 5000×4×9/100×12S.I. = N150