Post Utme Futa 2018 Commerce Question 24

Practice objective / multiple choice question 24 from the 2018 Post Utme Futa Commerce examination.

Post Utme Futa 2018 Commerce Objective / Multiple Choice
Question 24 POST_UTME_FUTA • 2018 • COMMERCE • objective

A bank offers a savings account with an interest rate of 5% per annum. The account has a minimum balance requirement of ₦10,000. What is the interest earned on a balance of ₦20,000 for 1 year?

Answer Options

A. ₦1,000
Correct Answer B. ₦1,500
C. ₦2,000
D. ₦2,500
Correct Answer
B
Correct Option:
₦1,500

About This Question

This is Post Utme Futa 2018 Commerce Question 24. It is one of the objective questions from the 2018 Post Utme Futa Commerce examination.

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