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BECE Mathematics 2023 Paper

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Question : 16

Total: 40

Find the simple interest on GH₵ 350.00 for 4 years at 5% per annum.

GH₵ 20.00
GH₵ 35.00
GH₵ 70.00
GH₵ 140.00

Solution:

\text{ Simple Interest } = \frac{ \text{ Principal } \times \text{ Time } \times \text{ Rate } }{100}

\text{ Principal } = \text{ GH₵ } 350.00

\text{ Time } = 4 \text{ years }

\text{ Rate } = 5

\text{ Simple Interest } = \frac{ \text{ GH₵ } 350 \times 4 \times 5 }{100}

\text{ Simple Interest } = \frac{ \text{ GH₵ } 350 \times 20 }{100}

\text{ Simple Interest } = \frac{ \text{ GH₵ } 350 }{5}

Note: 20 divides itself once and 100, 5 times.

Simple Interest

=

GH₵ 70.00

Note: 5 divides itself once and 350, 70 times.

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