A man invested N5,000 for 9 months at 4%. What is the simple interest?

Explanation

S.I. = \(\frac{P \times R \times T}{100}\)

If T = 9 months, it is equivalent to \(\frac{9}{12}\) years

S.I. = \(\frac{5000 \times 4 \times 9}{100 \times 12}\)

S.I. = N150

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