Post Utme Futo 2021 Commerce Question 34

Practice objective / multiple choice question 34 from the 2021 Post Utme Futo Commerce examination.

Post Utme Futo 2021 Commerce Objective / Multiple Choice
Question 34 POST_UTME_FUTO • 2021 • COMMERCE • objective

A bank offers a loan with an interest rate of 10% per annum compounded annually. If the principal amount is ₦10,000, what is the amount after 2 years?

Answer Options

A. ₦11,000
B. ₦11,100
Correct Answer C. ₦11,200
D. ₦11,300
Correct Answer
C
Correct Option:
₦11,200

About This Question

This is Post Utme Futo 2021 Commerce Question 34. It is one of the objective questions from the 2021 Post Utme Futo Commerce examination.

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