If the simple interest on N2000 after 9 months is N60, at what rate per annum is the interest charged?

  • A \(2\frac{1}{4}\)%
  • B 4%
  • C 5%
  • D 6%
waec 2000mathematics

The correct answer is B. 4%

\(I = \frac{PRT}{100}\)

\(R = \frac{100I}{PT}\)

\(R = \frac{100 \times 60}{2000 \times \frac{3}{4}}\)

\(R = \frac{6000}{1500}\)

= 4%

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