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BECE Mathematics 2012 Paper

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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

Solution:

\;\;\text{Simple Interest}\;=\;\frac{\;\text{Principal}\; \times \;\text{Time}\; \times \;\text{Rate}\;}{100}

\;\;\text{Simple Interest}\;=\;\text{GH₵11,250.00}\;

\;\;\text{Principal}\;=\;\text{GH₵}\; 150,000

\;\;\text{Rate}\;=2.5

\;\;\text{Time}\;=?

\;11250=\;\frac{150000 \times \;\text{Time}\; \times 2.5}{100}

\;11250=1500 \times 2.5 \times \;\text{Time}\;

\;11250=150 \times 10 \times 2.5 \times \;\text{Time}\;

\;11250=150 \times 25 \times \;\text{Time}\;

Divide both sides by

150 \times 25

to make Time the subject

\;\text{Time}\;=\;\frac{11250}{150 \times 25}=3\;\text{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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