The sum of money invested at 6% per annum simple interest increase to the #14750 after 3years the sum invested was
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
Correct Answer: Option B
Explanation:
R= 6% A= 14,750 P= ? I= ? T= 3yrs
I= PRT/100 = Px6x3/100 = 18P/100
I = 0.18P thereof A = P+I
14750= P + 0.18P
1.18P = 14750
P = 12,500
R= 6% A= 14,750 P= ? I= ? T= 3yrs
I= PRT/100 = Px6x3/100 = 18P/100
I = 0.18P thereof A = P+I
14750= P + 0.18P
1.18P = 14750
P = 12,500