Post Utme Unilag 2017 Commerce Question 3

Practice objective / multiple choice question 3 from the 2017 Post Utme Unilag Commerce examination.

Post Utme Unilag 2017 Commerce Objective / Multiple Choice
Question 3 POST_UTME_UNILAG • 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 in 5 years, what is the total interest paid?

Answer Options

A. ₦120,000
B. ₦150,000
Correct Answer C. ₦180,000
D. ₦200,000
Correct Answer
C
Correct Option:
₦180,000

About This Question

This is Post Utme Unilag 2017 Commerce Question 3. It is one of the objective questions from the 2017 Post Utme Unilag Commerce examination.

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