Post Utme Joseph Ayo Babalola University 2024 Commerce Question 25

Practice objective / multiple choice question 25 from the 2024 Post Utme Joseph Ayo Babalola University Commerce examination.

Post Utme Joseph Ayo Babalola University 2024 Commerce Objective / Multiple Choice
Question 25 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2024 • COMMERCE • objective

A bank offers a loan of ₦500,000 at an interest rate of 15% per annum. If the loan is repaid after 2 years, what is the total interest paid?

Answer Options

A. ₦75,000
B. ₦90,000
Correct Answer C. ₦120,000
D. ₦150,000
Correct Answer
C
Correct Option:
₦120,000

About This Question

This is Post Utme Joseph Ayo Babalola University 2024 Commerce Question 25. It is one of the objective questions from the 2024 Post Utme Joseph Ayo Babalola University Commerce examination.

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