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BECE Mathematics 2018 Paper
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© africaexams.com
Question : 11
Total: 40
Find the simple interest on GH₵ 600.00 saved for 2 years 8 months at 5% per anum.
GH₵ 64.00
GH₵ 80.00
GH₵ 84.00
GH₵ 92.00
Validate
Solution:
Simple interest
(
I
)
(I)
(
I
)
is calculated by the formula below:
Principal
(
P
)
=
GH₵
600.00
(P)=\text{GH₵} 600.00
(
P
)
=
GH₵
600.00
Convert the months to years.
There are 12 months in a year
8 months
=
8
12
=
2
3
=\frac{8}{12}=\frac{2}{3}
=
12
8
=
3
2
years
Total years
(
T
)
=
2
+
2
3
=
8
3
(T)=2+\frac{2}{3}=\frac{8}{3}
(
T
)
=
2
+
3
2
=
3
8
years
Rate
(
R
)
=
5
(R)=5
(
R
)
=
5
Cancel out
Simple Interest
=
2
×
8
×
5
=
16
×
5
=
80
=2 \times 8 \times 5=16 \times 5=80
=
2
×
8
×
5
=
16
×
5
=
80
© africaexams.com
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