Post Utme Afe Babalola University 2019 Commerce Question 7

Practice objective / multiple choice question 7 from the 2019 Post Utme Afe Babalola University Commerce examination.

Post Utme Afe Babalola University 2019 Commerce Objective / Multiple Choice
Question 7 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2019 • COMMERCE • objective

A bank offers a 5% discount on a loan of ₦100,000 for the first 6 months. If the interest rate is 12% per annum, what is the total interest paid at the end of the 6 months?

Answer Options

Correct Answer A. ₦6,000
B. ₦6,500
C. ₦7,000
D. ₦7,500
Correct Answer
A
Correct Option:
₦6,000

About This Question

This is Post Utme Afe Babalola University 2019 Commerce Question 7. It is one of the objective questions from the 2019 Post Utme Afe Babalola University Commerce examination.

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