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BECE Mathematics 2026 Paper

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Question : 18

Total: 40

Kofi paid an interest of GHC 30.00 on a loan he took for 4 years. If the rate was

3 \%

per annum simple interest, find the amount borrowed.

GHC 360.00
GHC 250.00
GHC 280.00
GHC 90.00

Solution:

Concept:

Use the simple interest formula to find the principal (amount borrowed).

Explanation:

Simple interest formula:

I = \frac{P \times R \times T}{100}

Given:

I = 30

,

R = 3\%

,

T = 4

years.

Substitute:

30 = \frac{P \times 3 \times 4}{100}

30 = \frac{12P}{100}

P = \frac{30 \times 100}{12}

P = \frac{3000}{12} = 250

Answer:

GHC 250.00

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