Mathematics

calculate the simple interest on N7,500 for 8 years at 5% per annum.

calculate the simple interest on N7,500 for 8 years at 5% per annum.

  • A.
    N3,000
  • B.
    N600
  • C.
    N300
  • D.
    N150
Correct Answer: Option A
Explanation

(I = frac{P times T times R}{100}\
=frac{7500 times 8 times 5}{100}\
=N3000)