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JAMB Mathematics 2017 Paper
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© africaexams.com
Question : 28
Total: 44
Find the principal which amounts to ₦ 5,500 at a simple interest in 5 years at 2% per annum
₦ 4,900
₦ 5,000
₦ 4,700
₦ 4,000
Validate
Solution:
Principal = P, Simple Interest = I, Amount = A
Amount = Principal + Simple Interest
I =
P
R
T
100
R = rate, T = time
I =
P
×
5
×
2
100
I =
10
P
100
I =
P
10
Amount A = P + I
5500 = P +
P
10
Multiply through by 100
5500 = 10P + P
5500 = 11P
p =
5500
11
p = ₦5000
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