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 = N255.00, Interest = 27.00
year = x Rate: 4%
∴ 1 = \(\frac{PRT}{100}\)
27 = \(\frac{225 \times 4 \times T}{100}\)
2700 = 900T
T = 3 years
Source: Myschool Past Questions Archive (Record #31152)