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JAMB Mathematics 2015 Paper
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© africaexams.com
Question : 14
Total: 61
The amount A to which a principal P amounts at r% compound interest for n years is given by the formula A = P(1 + (r ÷ 100)
n
^{n}
n
. Find A, if P = 126, r = 4 and n = 2.
N132.50K
N136.30K
N125.40K
N257.42K
Validate
Solution:
A
=
P
(
1
+
r
100
)
n
A = P \left(1 + \frac{r}{100}\right)^{n}
A
=
P
(
1
+
100
r
)
n
Where P = 126, r = 4,n = 2
A=126
(
1
+
4
100
)
2
Using LCM
\left(1 + \frac{4}{100}\right)^{2} \text{ Using LCM}
(
1
+
100
4
)
2
Using LCM
=126
(
100
+
4
100
)
2
=
126
(
104
100
)
2
\left(\frac{100+4}{100}\right)^{2} = 126 \left(\frac{104}{100}\right)^{2}
(
100
100
+
4
)
2
=
126
(
100
104
)
2
=126
(
1.0
4
2
)
(1.04^{2})
(
1.0
4
2
)
= 126 * 1.04 * 1.04
=136.28
A = 136.30 (approx.)
The Amount A, = N136.30k
© africaexams.com
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