BECE Mathematics 2015 Paper

Concept:Simple interest is calculated only on the original principal, so the total amount is principal plus the interest earned.Explanation:The simple interest formula is $SI = \frac{P \times R \times T}{100}$.Here, $P = \text{GH₵}800.00$, $R = 5\%$ per annum, and $T = 1$ year.Because the rate is per annum, time is taken in years; therefore, $T = 1$.Substitute the values into the formula: $SI = \frac{800 \times 5 \times 1}{100}$Simplify the numerator: $800 \times 5 \times 1 = 4000$Then, $SI = \frac{4000}{100} = 40$So, the simple interest for one year is $\text{GH₵}40.00$.Total amount in the bank after one year is $P + SI$That is, total amount $= 800.00 + 40.00 = \text{GH₵}840.00$Answer:A. GH₵840.00