Post Utme Lead City University 2017 Commerce Question 18

Practice objective / multiple choice question 18 from the 2017 Post Utme Lead City University Commerce examination.

Post Utme Lead City University 2017 Commerce Objective / Multiple Choice
Question 18 POST_UTME_LEAD_CITY_UNIVERSITY • 2017 • COMMERCE • objective

A bank offers a loan to a customer at an interest rate of 12% per annum. The loan is repayable in 5 years. What is the total interest paid by the customer over the loan period?

Answer Options

A. ₦10,000
Correct Answer B. ₦12,500
C. ₦15,000
D. ₦17,500
Correct Answer
B
Correct Option:
₦12,500

About This Question

This is Post Utme Lead City University 2017 Commerce Question 18. It is one of the objective questions from the 2017 Post Utme Lead City University Commerce examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support