Post Utme Ksu 2024 Commerce Question 14

Practice objective / multiple choice question 14 from the 2024 Post Utme Ksu Commerce examination.

Post Utme Ksu 2024 Commerce Objective / Multiple Choice
Question 14 POST_UTME_KSU • 2024 • COMMERCE • objective

A bank has a loan of ₦1,000,000 at an interest rate of 12% per annum. If the loan is compounded annually, what is the amount of interest paid after 2 years?

Answer Options

A. ₦24,000
B. ₦26,000
Correct Answer C. ₦28,000
D. ₦30,000
Correct Answer
C
Correct Option:
₦28,000

About This Question

This is Post Utme Ksu 2024 Commerce Question 14. It is one of the objective questions from the 2024 Post Utme Ksu Commerce examination.

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