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MATHEMATICS

JAMB 2005 - Question 5

Mathematics 2005 JAMB Past Questions - Question 5: If the interest on N150.00 for 2 1/2 years is N4.50,find the interest on N250.00 for 6 months at the same rate.

If the interest on N150.00 for 2 1/2 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

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Correct Answer

Explanation

ExplanationI=N4.50,P=N150,T=212yearsI=P×T×R/1004.50=150×212×R/1004.501=150×5×R/100×24.50×4=15RR=4.50×515R=65Again I=P×T×R/100=250×1×6/100×2×5=32=N1.50