Post Utme Ims U 2020 Commerce Question 12

Practice objective / multiple choice question 12 from the 2020 Post Utme Ims U Commerce examination.

Post Utme Ims U 2020 Commerce Objective / Multiple Choice
Question 12 POST_UTME_IMS_U • 2020 • COMMERCE • objective

A bank is considering introducing a new credit card product. The product will have a 20% annual interest rate and a 2% annual fee. If the customer makes a payment of ₦10,000, how much will they owe after one year?

Answer Options

A. ₦12,000
Correct Answer B. ₦12,200
C. ₦12,400
D. ₦12,600
Correct Answer
B
Correct Option:
₦12,200

About This Question

This is Post Utme Ims U 2020 Commerce Question 12. It is one of the objective questions from the 2020 Post Utme Ims U Commerce examination.

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