Interest is the money paid for saving a particular amount of money. Simple interest can be calculated using the formula Simple interest I = PRT/100 Where P= principal, R=rate & T= time Also total amount =principal +interest Example 1 Find the simple interest on N60, 000 for 5 years at 9% per annum […]

# Tag: PROFIT AND LOSS PERCENT

Profit or loss percent is expressed as a percentage of the cost price EXAMPLE 1 An article bought for $3,000 was sold for $3,300. Find the profit percent Solution Cost price = $3,000 Selling price = $3,300 Profit = $3300 – $3,000 = $300 Profit % = Profit x 100 Cost price 1 […]