If N225.00 yields N27.00 in x years simple interest at the rate of 4% per annum, find x.
A
3
B
4
C
12
D
17
Verified Correct Answer: A.
Step-by-Step Mathematical Solution
Principal = N225.00, interest = N27.00
Year = x, Rate = 4%
1 = \(\frac{PRT}{100}\)
27 = \(\frac{225 \times 4 \times x}{100}\) = 2700 = 900T
T = \(\frac{2700}{900}\)
= 3 years
Source: Myschool Past Questions Archive (Record #56825)