Simple interest - Jamb Mathematics Past Questions and Answers

Question 26:

• JAMB 2007

A man made a profit of 5% when he sold an article for N60,000.00. How much would he have sell the article to make a profit of 26%

A. N68,000
B. N72,000
C. N65,000
D. N70,000

Question 27:

• JAMB 2008

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

A. N3,000
B. N600
C. N300
D. N150

Question 28:

• JAMB 2010

At what rate will the interest on N400 increases to N24 in 3 years reckoning in simple interest?

A. 3%
B. 2%
C. 5%
D. 4%

Question 29:

• JAMB 2011

A man invested N5,000 for 9 months at 4%. What is the simple interest?

A. N150
B. N220
C. N130
D. N250

Question 30:

• 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