Post Utme Elizade University 2023 Commerce Question 33

Practice objective / multiple choice question 33 from the 2023 Post Utme Elizade University Commerce examination.

Post Utme Elizade University 2023 Commerce Objective / Multiple Choice
Question 33 POST_UTME_ELIZADE_UNIVERSITY • 2023 • COMMERCE • objective

A bank offers a loan to a customer at an interest rate of 12% per annum. The loan is repayable in 5 years. What is the total interest paid by the customer?

Answer Options

A. ₦12,000
Correct Answer B. ₦15,000
C. ₦18,000
D. ₦20,000
Correct Answer
B
Correct Option:
₦15,000

About This Question

This is Post Utme Elizade University 2023 Commerce Question 33. It is one of the objective questions from the 2023 Post Utme Elizade University Commerce examination.

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