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BECE Mathematics 2015 Paper
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© africaexams.com
Question : 13
Total: 40
A man invested GH₵800.00 in a bank at a simple interest rate of 5% per annum. Find his total amount in the bank at the end
of one year.
GH₵840.00
GH₵860.00
GH₵900.00
GH₵960.00
Validate
Solution:
Total Amount
=
Principal Amount
+
Simple Interest
Simple Interest
=
Principal
×
Time
×
Rate
100
Principal
=
GH₵800.00
Time
=
1
Rate
=
5
Simple Interest
=
800
×
1
×
5
100
=
8
×
1
×
5
=
40
Total Amount
=
800
+
40
=
GH₵
840.00
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