Post Utme Covenant University 2017 Commerce Question 20

Practice objective / multiple choice question 20 from the 2017 Post Utme Covenant University Commerce examination.

Post Utme Covenant University 2017 Commerce Objective / Multiple Choice
Question 20 POST_UTME_COVENANT_UNIVERSITY • 2017 • COMMERCE • objective

A bank's interest rate is 12% per annum. If a customer deposits ₦100,000 for 1 year, how much interest will the customer earn?

Answer Options

A. ₦12,000
Correct Answer B. ₦12,500
C. ₦13,000
D. ₦13,500
Correct Answer
B
Correct Option:
₦12,500

About This Question

This is Post Utme Covenant University 2017 Commerce Question 20. It is one of the objective questions from the 2017 Post Utme Covenant University Commerce examination.

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