Simple interest - Jamb Mathematics Past Questions and Answers

Question 36:

• 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 37:

• JAMB 2020

If N225.00 yields N27.00 in x years simple interest at the rate of 4% per annum, find x.

A. 3
B. 4
C. 12
D. 17

Question 38:

• JAMB 2020

Find the simple interest rate percent annum at which N1000 accumulates to N1240 in 3 years.

A. 6%
B. 8%
C. 10%
D. 12%

Question 39:

• JAMB 2021

Musa borrows N10.00 at 2% per month simple interest and repays N8.00 after 4 months. How much does he still owe?

A. N10.80
B. N10.67
C. N2.80
D. N2.67

Question 40:

• JAMB 2021

At what rate would a sum of N100.00 deposited for 5 years raise an interest of N7.50?

A. \(\frac{1}{2}\)%
B. 2\(\frac{1}{2}\)%
C. 1.5%
D. 25%