Post Utme Rhema University 2023 Commerce Question 10

Practice objective / multiple choice question 10 from the 2023 Post Utme Rhema University Commerce examination.

Post Utme Rhema University 2023 Commerce Objective / Multiple Choice
Question 10 POST_UTME_RHEMA_UNIVERSITY • 2023 • COMMERCE • objective

A bank in Nigeria is offering a loan to a customer. The loan has an interest rate of 12% per annum and a repayment period of 5 years. What is the total interest paid by the customer over the repayment 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 Rhema University 2023 Commerce Question 10. It is one of the objective questions from the 2023 Post Utme Rhema University Commerce examination.

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