Post Utme Delsu 2020 Commerce Question 34

Practice objective / multiple choice question 34 from the 2020 Post Utme Delsu Commerce examination.

Post Utme Delsu 2020 Commerce Objective / Multiple Choice
Question 34 POST_UTME_DELSU • 2020 • COMMERCE • objective

A bank offers a loan of ₦1,000,000 at an interest rate of 10% per annum compounded annually. If the loan is repaid after 5 years, what is the total amount paid?

Answer Options

Correct Answer A. ₦1,628,919
B. ₦1,631,919
C. ₦1,634,919
D. ₦1,637,919
Correct Answer
A
Correct Option:
₦1,628,919

About This Question

This is Post Utme Delsu 2020 Commerce Question 34. It is one of the objective questions from the 2020 Post Utme Delsu Commerce examination.

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