Oke deposited ₦800.00 in the bank at the rate of 1221% simple interest. After some time the total amount was one and a half times the principal. For how many years was the money left in the bank?
Worked solution (try it first)
The amount is 121 times ₦800, which is ₦1,200, so the interest is 1200−800= ₦400.