Post Utme Eksu 2020 Commerce Question 25

Practice objective / multiple choice question 25 from the 2020 Post Utme Eksu Commerce examination.

Post Utme Eksu 2020 Commerce Objective / Multiple Choice
Question 25 POST_UTME_EKSU • 2020 • COMMERCE • objective

A bank has a loan of ₦1,000,000 at an interest rate of 12% per annum. If the loan is compounded annually, what is the amount of the loan after 2 years?

Answer Options

A. ₦1,144,000
B. ₦1,160,000
Correct Answer C. ₦1,200,000
D. ₦1,280,000
Correct Answer
C
Correct Option:
₦1,200,000

About This Question

This is Post Utme Eksu 2020 Commerce Question 25. It is one of the objective questions from the 2020 Post Utme Eksu Commerce examination.

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