Post Utme Veritas University 2021 Commerce Question 3

Practice objective / multiple choice question 3 from the 2021 Post Utme Veritas University Commerce examination.

Post Utme Veritas University 2021 Commerce Objective / Multiple Choice
Question 3 POST_UTME_VERITAS_UNIVERSITY • 2021 • COMMERCE • objective

A bank has a loan of ₦1,000,000 with an interest rate of 10% per annum compounded annually. What is the amount after 2 years?

Answer Options

A. ₦1,220,000
B. ₦1,221,000
Correct Answer C. ₦1,222,000
D. ₦1,223,000
Correct Answer
C
Correct Option:
₦1,222,000

About This Question

This is Post Utme Veritas University 2021 Commerce Question 3. It is one of the objective questions from the 2021 Post Utme Veritas University Commerce examination.

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