Question

15. A bank pays 5% simple interest per
annum for deposit accounts.
Ahmed deposits N200.00 in the
bank for two years, what will be his
total amount in the bank at the end
of two years?
(a) 10
(b) 20
(c) 200
d)210
(e) 220​

Answer 1

Answer:

a) 10 is the correct answer.

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Answer 2

Answer:

E (220)

Step-by-step explanation:

SI = P×R×T /100

5×200×2/100

20Rs (Simple Interest).

Amount = Principal + SI

Amount = 200 + 20

=} 220....