Post Utme Redeemers University 2019 Commerce Question 33

Practice objective / multiple choice question 33 from the 2019 Post Utme Redeemers University Commerce examination.

Post Utme Redeemers University 2019 Commerce Objective / Multiple Choice
Question 33 POST_UTME_REDEEMERS_UNIVERSITY • 2019 • COMMERCE • objective

A bank offers a 6% interest rate on a 5-year fixed deposit. If the principal amount is ₦100,000, what is the total interest earned?

Answer Options

A. ₦15,000
Correct Answer B. ₦18,000
C. ₦20,000
D. ₦22,000
Correct Answer
B
Correct Option:
₦18,000

About This Question

This is Post Utme Redeemers University 2019 Commerce Question 33. It is one of the objective questions from the 2019 Post Utme Redeemers University Commerce examination.

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