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At what rate will the interest on N500 increase to N25 in 5 years reckoning in simple interest?

At what rate will the interest on N500 increase to N25 in 5 years reckoning in simple interest?
Solution
P = principal, R = rate, I = interest, T = Time taken in years
P× 100 = RIT
25×100=R×500×5
R = 5%

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Oluwamuyide Peter

On the 4th of November I officially became a member of the exclusive 1st student with distinction after five years of no such record, in the history of The Polytechnic Ibadan, Faculty of Engineering to graduate with distinction as a DPP students since its establishment in 2011. My unrelenting power to solve problems, have made me to create a platform where student can get valid information anywhere, anyplace at anytime Evolving education world wide 🌎

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