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BECE Mathematics 2020 Paper

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Question : 23

Total: 40

A man earned an interest of GH₵ 240.00 in 4 years at 20% per annum simple interest. Calculate the principal

GH₵ 300.00
GH₵ 450.00
GH₵ 480.00
GH₵ 1,200.00

Solution:

Interest

=

Principal

\times

Time

\times

Rate

\frac{}{100}

Interest

=240

, Time

=4

and Rate

=20

\Rightarrow 240= \frac{ \; \text{ Principal } \; \times 4 \times 20}{100}

Multiply both sides by 100 and simplify

4 \times 20

(80)

\Rightarrow 240 \times 100 = 80 \times \; \text{ Principal } \;

Divide both sides by 80 so that Principal can be alone at one side of the equation

\frac{240 \times 100}{80} = \; \text{ Principal } \;

80 goes into 240,3 times

\Rightarrow 3 \times 100 = \; \text{ Principal } \;

\Rightarrow \; \text{ Principal } \; = 300

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