Waec Model Questions Vol1 2021 Commerce Question 3
Practice objective / multiple choice question 3 from the 2021 Waec Model Questions Vol1 Commerce examination.
A customer deposits ₦500,000 in a bank account that pays 8% per annum compounded semi‑annually. After 2 years the customer withdraws part of the balance, leaving the remainder to stay in the account for another 3 years. The amount withdrawn is exactly equal to the interest that would have been earned on the remaining balance during those 3 years at the same rate. How much money was withdrawn?
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About This Question
This is Waec Model Questions Vol1 2021 Commerce Question 3. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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