Simple interest - Jamb Mathematics Past Questions and Answers

Question 6:

• JAMB 2015

Find the simple interest on N325 in 5years at 3% per annum.

A. N48.75K
B. N50.10K
C. N75.50K
D. N15.75K

Question 7:

• JAMB 2015

If an investor invest N450,000 in a certain organization in order to yield X as a return of N25,000. Find the return on an investment of N700,000 by Y in the same organization.

A. N14,950.50K
B. N25,150.30K
C. N15,000.00K
D. N38,888.90K

Question 8:

• JAMB 2013

Calculate the time taken for N3000 to earn N600 if invested at 8% simple interest

A. 2\(\frac{1}{2}\) years
B. 3 years
C. 3\(\frac{1}{2}\) years
D. 1\(\frac{1}{2}\) years

Question 9:

• JAMB 1981

A sum of money invested at 5% per annum simple interest amounts to $285.20 after 3 years. How long will it take the same sum to amount to $434.00 at 7\(\frac{1}{2}\)% per annum simple interest?

A. 7\(\frac{1}{2}\) years
B. 10 years
C. 5 years
D. 12 years
E. 14 years

Question 10:

• JAMB 1984

A man invested a total of N50000 in two companies. If these companies pay dividends of 6% and 8% respectively, how much did he invest at 8% if the total yield is N3700?

A. N15 000
B. N29 600
C. N27 800
D. N21 400
E. N35 000