Post Utme Coal City University 2020 Commerce Question 18

Practice objective / multiple choice question 18 from the 2020 Post Utme Coal City University Commerce examination.

Post Utme Coal City University 2020 Commerce Objective / Multiple Choice
Question 18 POST_UTME_COAL_CITY_UNIVERSITY • 2020 • COMMERCE • objective

A bank offers a loan with an interest rate of 12% per annum compounded annually. If the principal amount is ₦10,000, what is the amount after 2 years?

Answer Options

A. ₦12,240
B. ₦12,480
C. ₦12,720
Correct Answer D. ₦13,440
Correct Answer
D
Correct Option:
₦13,440

About This Question

This is Post Utme Coal City University 2020 Commerce Question 18. It is one of the objective questions from the 2020 Post Utme Coal City University Commerce examination.

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