Post Utme Ims U 2020 Commerce Question 35

Practice objective / multiple choice question 35 from the 2020 Post Utme Ims U Commerce examination.

Post Utme Ims U 2020 Commerce Objective / Multiple Choice

Question 35 POST_UTME_IMS_U • 2020 • COMMERCE • objective

A bank offers a loan to a customer at an interest rate of 12% per annum. Which of the following is the formula for calculating the interest on the loan?

Correct Answer A. I = P \times R \times T

B. I = P \times R \times T \times 100

C. I = P \times R \times T \times 12

D. I = P \times R \times T \times 1000

Correct Answer

Correct Option:

I = P \times R \times T

This is Post Utme Ims U 2020 Commerce Question 35. It is one of the objective questions from the 2020 Post Utme Ims U Commerce examination.

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