After what length of time will N2400.00 yield an interest of N60.00 at 1\(\frac{1}{2}\)% per annum?
A
2\(\frac{4}{5}\) years
B
1\(\frac{2}{3}\) years
C
1\(\frac{1}{2}\) years
D
1 years
E
\(\frac{3}{5}\) year
Verified Correct Answer: B.
Step-by-Step Mathematical Solution
No expanded working has been attached for this question yet. The verified answer is Option B.
Source: Myschool Past Questions Archive (Record #42209)