The simple interest on ₦8550 for 3 years at x% per annum is ₦4890. Calculate the value of x to the nearest whole number.

The simple interest on ₦8550 for 3 years at x% per annum is ₦4890. Calculate the value of x to the nearest whole number.
A. 19%
B. 20%
C. 25%
D. 16.3%

Correct Option: Answer is A

Solution:
Simple Interest = PRT/100
⟹ N 4890 = (8550×3 x X)/100
x=(4890×100)/(8550 x 3)
x=19.06x=19.06
x≊19

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