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BECE Mathematics 2012 Paper
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© africaexams.com
Question : 24
Total: 40
Kofi invested GH₵ 150,000 at 2.5\% per annum simple interest. How long will it take this amount to yield an interest of GH₵ 11,250.00?
2 years
3 years
4 years
5 years
Validate
Solution:
Simple Interest
=
Principal
×
Time
×
Rate
100
Simple Interest
=
GH₵11,250.00
Principal
=
GH₵
150
,
000
Rate
=
2.5
Time
=
?
11250
=
150000
×
Time
×
2.5
100
11250
=
1500
×
2.5
×
Time
11250
=
150
×
10
×
2.5
×
Time
11250
=
150
×
25
×
Time
Divide both sides by
150
×
25
to make Time the subject
Time
=
11250
150
×
25
=
3
years
Note: 25 divides itself once and 11250, 450 times. 150 divides itself once and 450, 3 times.
11250 divided by 25
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