A sum of money was invested at 8% per annum simple intere...
A sum of money was invested at 8% per annum simple interest. If after 4 years the money amounts to N330.00. Find the amount originally invested
N180.00
N165.00
N150.00
N250.00
N200.00
Correct answer is D
S.I = PTR100
T = 4yrs, R = 8%, a = N330.00
330 - P = PTR100, A = P + I
i.e. A = P + PTR100
330 = P + P(4)(8)100
33000 = 32P + 100p
132P = 33000
P = N250.00
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