Post Utme Aaua 2023 Commerce Question 20

Practice objective / multiple choice question 20 from the 2023 Post Utme Aaua Commerce examination.

Post Utme Aaua 2023 Commerce Objective / Multiple Choice
Question 20 POST_UTME_AAUA • 2023 • COMMERCE • objective

A bank has a loan portfolio that includes personal loans, business loans, and mortgage loans. The interest rates on each type of loan are as follows: personal loans (12%), business loans (15%), and mortgage loans (8%). If the bank wants to allocate its loan portfolio to achieve an interest income of ₦1,000,000, what is the optimal allocation?

Answer Options

Correct Answer A. Personal Loans: ₦300,000, Business Loans: ₦400,000, Mortgage Loans: ₦300,000
B. Personal Loans: ₦400,000, Business Loans: ₦300,000, Mortgage Loans: ₦300,000
C. Personal Loans: ₦300,000, Business Loans: ₦300,000, Mortgage Loans: ₦400,000
D. Personal Loans: ₦400,000, Business Loans: ₦400,000, Mortgage Loans: ₦200,000
Correct Answer
A
Correct Option:
Personal Loans: ₦300,000, Business Loans: ₦400,000, Mortgage Loans: ₦300,000

About This Question

This is Post Utme Aaua 2023 Commerce Question 20. It is one of the objective questions from the 2023 Post Utme Aaua Commerce examination.

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