Post Utme Skyline University 2017 Commerce Question 28

Practice objective / multiple choice question 28 from the 2017 Post Utme Skyline University Commerce examination.

Post Utme Skyline University 2017 Commerce Objective / Multiple Choice
Question 28 POST_UTME_SKYLINE_UNIVERSITY • 2017 • COMMERCE • objective

A bank offers a loan of ₦1,000,000 at an interest rate of 12% per annum. If the loan is repaid after 2 years, how much will the borrower pay in total?

Answer Options

A. ₦1,120,000
B. ₦1,240,000
Correct Answer C. ₦1,360,000
D. ₦1,480,000
Correct Answer
C
Correct Option:
₦1,360,000

About This Question

This is Post Utme Skyline University 2017 Commerce Question 28. It is one of the objective questions from the 2017 Post Utme Skyline University Commerce examination.

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