The simple interest on ₦8550 for 3 years at x% per annum is ₦4890. Calculate the value of x to the nearest whole number.
19%
20%
25%
16.3%
Correct answer is A
S.I = \(\frac{PRT}{100}\)
\(\implies\) N 4890 = \(\frac{8550 \times 3 \times x}{100}\)
\(x = \frac{4890 \times 100}{8550 \times 3}\)
\(x = 19.06%\)
\(x \approxeq 19%\)