Post Utme Lautech 2020 Commerce Question 24

Practice objective / multiple choice question 24 from the 2020 Post Utme Lautech Commerce examination.

Post Utme Lautech 2020 Commerce Objective / Multiple Choice
Question 24 POST_UTME_LAUTECH • 2020 • COMMERCE • objective

A bank's interest rate on a loan is 12% per annum. If the loan amount is ₦100,000, how much interest will be paid after 2 years?

Answer Options

A. ₦24,000
B. ₦24,500
Correct Answer C. ₦25,000
D. ₦25,500
Correct Answer
C
Correct Option:
₦25,000

About This Question

This is Post Utme Lautech 2020 Commerce Question 24. It is one of the objective questions from the 2020 Post Utme Lautech Commerce examination.

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