If the interest on N150 00 for 21 2 years is N4... - JAMB Mathematics 2005 Question

\(I = N4.50, P = N150,T=2\frac{1}{2}\hspace{1mm}years\I=\frac{P\times T\times R}{100}\4.50=\frac{150 \times 2\frac{1}{2} \times R}{100}\\frac{4.50}{1}=\frac{150 \times 5 \times R}{100\times 2}\4.50\times 4 = 15R\R=\frac{4.50\times5}{15}\R = \frac{6}{5}\Again\hspace{1mm}I\hspace{1mm}=\frac{P\times T \times R}{100}\=\frac{250\times 1 \times 6}{100\times 2\times 5}\=\frac{3}{2}=N1.50\)