Post Utme Uniben 2022 Commerce Question 24

Practice objective / multiple choice question 24 from the 2022 Post Utme Uniben Commerce examination.

Post Utme Uniben 2022 Commerce Objective / Multiple Choice
Question 24 POST_UTME_UNIBEN • 2022 • COMMERCE • objective

A bank offers a loan of ₦1 million to a customer at an annual interest rate of 12%. If the loan is repaid in 5 years, what is the total interest paid?

Answer Options

A. ₦150,000
B. ₦200,000
C. ₦250,000
Correct Answer D. ₦300,000
Correct Answer
D
Correct Option:
₦300,000

About This Question

This is Post Utme Uniben 2022 Commerce Question 24. It is one of the objective questions from the 2022 Post Utme Uniben Commerce examination.

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