Post Utme Noun 2022 Commerce Question 23

Practice objective / multiple choice question 23 from the 2022 Post Utme Noun Commerce examination.

Post Utme Noun 2022 Commerce Objective / Multiple Choice
Question 23 POST_UTME_NOUN • 2022 • COMMERCE • objective

A bank offers a loan with an interest rate of 12% per annum compounded annually. If the principal amount is ₦100,000, what is the amount after 2 years?

Answer Options

A. ₦121,000
Correct Answer B. ₦122,000
C. ₦123,000
D. ₦124,000
Correct Answer
B
Correct Option:
₦122,000

About This Question

This is Post Utme Noun 2022 Commerce Question 23. It is one of the objective questions from the 2022 Post Utme Noun Commerce examination.

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