Question on: WAEC Mathematics - 2007
At what rate per cent per annum will N520.00 yield a simple interest of N39.00 in three years?
A
4%
B
3\(\frac{1}{2}\)%
C
3%
D
2\(\frac{1}{2}\)%
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Correct Option: D
SI = (\frac{PRT}{100})
39 = (\frac{520 \times R \times 3}{100})
1560R = 3900
R = (\frac{3900}{1560})
= 2.5%
R = 2(\frac{1}{2})%
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