MathematicsFractions, decimals, approximations and percentagesWAEC
Calculate the simple interest on ₦18,000 for 4 years at 5% per annum.
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Answer: B. ₦3,600
I = PRT/100 = 18,000 × 5 × 4/100 = ₦3,600. ₦21,600 is the amount, not the interest.
An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.