Post Utme Uniben 2022 Commerce Question 36

Practice objective / multiple choice question 36 from the 2022 Post Utme Uniben Commerce examination.

Post Utme Uniben 2022 Commerce Objective / Multiple Choice
Question 36 POST_UTME_UNIBEN • 2022 • COMMERCE • objective

A bank has a loan of ₦1,000,000 at an interest rate of 10% per annum. If the loan is for 5 years, what is the total interest paid?

Answer Options

A. ₦50,000
B. ₦62,500
C. ₦75,000
Correct Answer D. ₦87,500
Correct Answer
D
Correct Option:
₦87,500

About This Question

This is Post Utme Uniben 2022 Commerce Question 36. It is one of the objective questions from the 2022 Post Utme Uniben Commerce examination.

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