Post Utme Nile University 2025 Commerce Question 14

Practice objective / multiple choice question 14 from the 2025 Post Utme Nile University Commerce examination.

Post Utme Nile University 2025 Commerce Objective / Multiple Choice
Question 14 POST_UTME_NILE_UNIVERSITY • 2025 • COMMERCE • objective

A bank in Nigeria offers a credit card with a 20% interest rate. What is the effective interest rate if the card is used for 12 months?

Answer Options

A. 18%
B. 20%
Correct Answer C. 22%
D. 25%
Correct Answer
C
Correct Option:
22%

About This Question

This is Post Utme Nile University 2025 Commerce Question 14. It is one of the objective questions from the 2025 Post Utme Nile University Commerce examination.

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