Alright, let's tackle each question one by one:
Question 6:
We are asked to find the interest on GH₵ 400.00 for 2 years at 10% simple interest per annum.
To solve this, we utilize the formula for Simple Interest:
[tex]\[ \text{Simple Interest (SI)} = P \times R \times T \][/tex]
where:
- [tex]\(P\)[/tex] is the principal amount (initial amount) which is GH₵ 400.00,
- [tex]\(R\)[/tex] is the rate of interest per annum which is 10%, and
- [tex]\(T\)[/tex] is the time in years which is 2 years.
Let's input the values into the formula:
1. The principal amount [tex]\(P\)[/tex] is GH₵ 400.00.
2. The annual interest rate [tex]\(R\)[/tex] is 10%, which we convert to a decimal form for the calculations (10% = 0.10).
3. The time period [tex]\(T\)[/tex] is 2 years.
Now, we calculate the simple interest:
[tex]\[ \text{Simple Interest} = 400.00 \times 0.10 \times 2 \][/tex]
Perform the multiplication:
[tex]\[ \text{Simple Interest} = 400.00 \times 0.10 = 40.00 \][/tex]
[tex]\[ \text{Simple Interest} = 40.00 \times 2 = 80.00 \][/tex]
Therefore, the interest on GH₵ 400.00 for 2 years at 10% simple interest per annum is GH₵ 80.00.
The correct answer is:
D. GH₵ 80.00
