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
Correct Answer: Option A
Explanation
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