Simple interest - Jamb Mathematics Past Questions and Answers

Question 31:

• JAMB 2014

A woman bought a grinder for N60,000. She sold it at a loss of 15%. How much did she sell it?

A. N53,000
B. N52,000
C. N51,000
D. N50,000

Question 32:

• JAMB 2014

A man donates 10% of his monthly net earnings to his church. If it amounts to N4,500, what is his net monthly income?

A. N40,500
B. N45,000
C. N52,500
D. N62,000

Question 33:

• JAMB 2015

The amount A to which a principal P amounts at r% compound interest for n years is given by the formula A = P(1 + (r ÷ 100)\(^n\). Find A, if P = 126, r = 4 and n = 2.

A. N132.50K
B. N136.30K
C. N125.40K
D. N257.42K

Question 34:

• JAMB 2015

Find at which rate per annum simple interest N525 will amount to N588 in 3 years.

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

Question 35:

• 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