Post Utme Unn 2022 Commerce Question 17

Practice objective / multiple choice question 17 from the 2022 Post Utme Unn Commerce examination.

Post Utme Unn 2022 Commerce Objective / Multiple Choice
Question 17 POST_UTME_UNN • 2022 • COMMERCE • objective

A bank offers a credit card with an annual interest rate of 20% and a minimum payment of 2% of the outstanding balance. If the outstanding balance is ₦50,000, what is the minimum payment due?

Answer Options

A. ₦1,000
B. ₦1,500
Correct Answer C. ₦2,000
D. ₦2,500
Correct Answer
C
Correct Option:
₦2,000

About This Question

This is Post Utme Unn 2022 Commerce Question 17. It is one of the objective questions from the 2022 Post Utme Unn Commerce examination.

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