Post Utme Bells University 2017 Commerce Question 47

Practice objective / multiple choice question 47 from the 2017 Post Utme Bells University Commerce examination.

Post Utme Bells University 2017 Commerce Objective / Multiple Choice
Question 47 POST_UTME_BELLS_UNIVERSITY • 2017 • COMMERCE • objective

A company has a loan of ₦500,000 at an interest rate of 10% per annum. If the company makes a payment of ₦50,000 at the end of the first year, what is the new balance?

Answer Options

A. ₦450,000
B. ₦475,000
C. ₦500,000
Correct Answer D. ₦525,000
Correct Answer
D
Correct Option:
₦525,000

About This Question

This is Post Utme Bells University 2017 Commerce Question 47. It is one of the objective questions from the 2017 Post Utme Bells University Commerce examination.

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