Post Utme Uniport 2024 Commerce Question 7
Practice objective / multiple choice question 7 from the 2024 Post Utme Uniport Commerce examination.
A consumer protection agency has received a complaint from a customer who was charged an interest rate of 20% per annum on a loan of ₦100,000. The customer claims that the interest rate is excessive and unfair. Using the concept of usury, determine whether the interest rate charged by the lender is excessive.
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About This Question
This is Post Utme Uniport 2024 Commerce Question 7. It is one of the objective questions from the 2024 Post Utme Uniport Commerce examination.
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