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BECE Mathematics 2013 Paper

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Question : 29

Total: 40

Calculate the simple interest on GH₵450.00 for 2 years at 12\% per annum.

GH₵191.00
GH₵ 108.00
GH₵ 54.00
GH₵ 27.00

Solution:

Concept:

Simple interest is calculated using the formula:

I = \frac{P \times T \times R}{100}

Explanation:

Here, Principal

P = \text{GH₵}450.00

Time

T = 2

years

Rate

R = 12\%

per annum

Substitute into the formula:

I = \frac{450 \times 2 \times 12}{100}

Simplify:

450 \div 50 = 9

and

100 \div 50 = 2

I = 9 \times 1 \times 12 = 108

Answer:

The simple interest is

\text{GH₵}108.00

, so the correct option is B.

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