Find the simple interest on N325 in 5years at 3% per annum.
A
N48.75K
B
N50.10K
C
N75.50K
D
N15.75K
Verified Correct Answer: A.
Step-by-Step Mathematical Solution
I =[ PRT ÷ 100]
[(325 × 5 × 3) ÷ (100)]
N(195 ÷ 4)
N48.75K
Source: Myschool Past Questions Archive (Record #40669)