Post Utme Ui 2019 Commerce Question 28

Practice objective / multiple choice question 28 from the 2019 Post Utme Ui Commerce examination.

Post Utme Ui 2019 Commerce Objective / Multiple Choice
Question 28 POST_UTME_UI • 2019 • COMMERCE • objective

A bank offers a loan to a customer with an interest rate of 12% per annum. If the loan is for 5 years, what is the total interest paid?

Answer Options

A. ₦12,500
Correct Answer B. ₦15,625
C. ₦18,750
D. ₦22,500
Correct Answer
B
Correct Option:
₦15,625

About This Question

This is Post Utme Ui 2019 Commerce Question 28. It is one of the objective questions from the 2019 Post Utme Ui Commerce examination.

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