Post Utme Delsu 2020 Commerce Question 19

Practice objective / multiple choice question 19 from the 2020 Post Utme Delsu Commerce examination.

Post Utme Delsu 2020 Commerce Objective / Multiple Choice
Question 19 POST_UTME_DELSU • 2020 • COMMERCE • objective

A bank wants to calculate the interest on a loan of ₦500,000 for 2 years at an interest rate of 10% per annum. If the interest is compounded annually, what is the total amount to be paid after 2 years?

Answer Options

A. ₦550,000
B. ₦560,000
Correct Answer C. ₦570,000
D. ₦580,000
Correct Answer
C
Correct Option:
₦570,000

About This Question

This is Post Utme Delsu 2020 Commerce Question 19. It is one of the objective questions from the 2020 Post Utme Delsu Commerce examination.

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