P naira invested for 4 years invested for 4 years at r% simple interest per annum yields 0.36 p naira interest. Find the value of r
-
A.
1(frac{1}{9}) -
B.
1(frac{4}{9}) -
C.
9 -
D.
11
Correct Answer: Option C
Explanation
I = (frac{PRT}{100})
where r = r% p.a; I = 0.36p
0.36p = (frac{P times r times 4}{100})
(frac{0.36 times 100}{4}) = r
r = 9