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Musa borrows N10 00 at 2 per month simple inter... - JAMB Mathematics 1991 Question

Musa borrows N10.00 at 2% per month simple interest and repays N8.00 after 4 months. How much does he still owe
A
N10.80
B
N10.67
C
N2.80
D
N2.67
correct option: c

I = (\frac{PRT}{100})

= (\frac{10 \times 2 \times 4}{100})

= (\frac{4}{5})

= 0.8

Total amount = N10.80

He pays N8.00

Remainder = 10.80 - 8.00

= N2.80

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