If N225.00 yields N27.00 in x years simple interest at the rate of 4% per annum, find x.
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Correct Answer: Option A
Explanation:
Principal = N225.00, interest = N27.00
Year = x, Rate = 4%
1 = \(\frac{PRT}{100}\)
27 = \(\frac{225 \times 4 \times x}{100}\) = 2700 = 900T
T = \(\frac{2700}{900}\)
= 3 years
Principal = N225.00, interest = N27.00
Year = x, Rate = 4%
1 = \(\frac{PRT}{100}\)
27 = \(\frac{225 \times 4 \times x}{100}\) = 2700 = 900T
T = \(\frac{2700}{900}\)
= 3 years