Post Utme Mountain Top University 2022 Accounting Question 38

Practice objective / multiple choice question 38 from the 2022 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2022 Accounting Objective / Multiple Choice
Question 38 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2022 • ACCOUNTING • objective

A firm has a debt of ₦1,000,000 at an interest rate of 10% per annum. Calculate the interest on the debt for a period of 2 years.

Answer Options

A. ₦20,000
B. ₦22,000
Correct Answer C. ₦24,000
D. ₦26,000
Correct Answer
C
Correct Option:
₦24,000

About This Question

This is Post Utme Mountain Top University 2022 Accounting Question 38. It is one of the objective questions from the 2022 Post Utme Mountain Top University Accounting examination.

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