Question 3

Ama was granted a loan of ¢800,000.00 by a bank. The rate of interest was 42% per annum.
(a)Calculate
(i)the interest at the end of the year;
(ii)the total amount Ama had to pay at the end of the year.

(b)Ama was able to pay only ¢700,000.00 at the end of the year.
(i)Find how much Ama still owed the bank
(ii)Express the amount Ama owed after paying the ¢700,000.00 to the bank as a percentage of the loan she took from the bank.

Theory

Question details

Exam body
BECE JHS
Subject
Mathematics
Year
2000
Question no.
#3
Type
Theory

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