Post Utme Aaua 2022 Commerce Question 24

Practice objective / multiple choice question 24 from the 2022 Post Utme Aaua Commerce examination.

Post Utme Aaua 2022 Commerce Objective / Multiple Choice
Question 24 POST_UTME_AAUA • 2022 • COMMERCE • objective

A bank has a loan of ₦500,000 with an interest rate of 10% per annum. If the loan is for 5 years, what is the total amount that the bank will pay at the end of the loan period?

Answer Options

A. ₦750,000
B. ₦800,000
C. ₦850,000
Correct Answer D. ₦900,000
Correct Answer
D
Correct Option:
₦900,000

About This Question

This is Post Utme Aaua 2022 Commerce Question 24. It is one of the objective questions from the 2022 Post Utme Aaua Commerce examination.

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