A man invested N80 at a certain rate of simple interest. If at the end of 5 years the money amounted to N88, what was the rate of simple interest paid? ​

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  2%

Step-by-step explanation:

The amount of interest is the difference between the total amount and the principal amount:

  N88 -N80 = N8 . . . . the amount of interest

The interest amount is given by the formula ...

  I = Prt

Solving for r, we find ...

  r = I/(Pt) = 8/(80×5) = 1/50 = 2%

The rate of simple interest paid was 2%.

the answer is:

the answer is:

to solve the problem, we need to remember the quotient of power property, it's defined by the following relation:

if we have a quotienf of powers that have the same base, we need to keep the same base and subtract the exponent of the denominator power to the exponent of the numerator power.

so, we are given the expression:

then, calculating we have:

hence, the answer is:

have a nice day!