Post Utme Madonna University 2025 Commerce Question 13

Practice objective / multiple choice question 13 from the 2025 Post Utme Madonna University Commerce examination.

Post Utme Madonna University 2025 Commerce Objective / Multiple Choice
Question 13 POST_UTME_MADONNA_UNIVERSITY • 2025 • 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 5-year period?

Answer Options

A. ₦12,000
Correct Answer B. ₦15,000
C. ₦18,000
D. ₦20,000
Correct Answer
B
Correct Option:
₦15,000

About This Question

This is Post Utme Madonna University 2025 Commerce Question 13. It is one of the objective questions from the 2025 Post Utme Madonna University Commerce examination.

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