Post Utme Wellspring University 2022 Commerce Question 40

Practice objective / multiple choice question 40 from the 2022 Post Utme Wellspring University Commerce examination.

Post Utme Wellspring University 2022 Commerce Objective / Multiple Choice
Question 40 POST_UTME_WELLSPRING_UNIVERSITY • 2022 • COMMERCE • objective

A company has a bank account with a balance of ₦1,000,000. The company wants to borrow ₦500,000 from the bank at an interest rate of 10% per annum. What is the total amount the company will pay after one year?

Answer Options

A. ₦1,550,000
B. ₦1,600,000
C. ₦1,650,000
Correct Answer D. ₦1,700,000
Correct Answer
D
Correct Option:
₦1,700,000

About This Question

This is Post Utme Wellspring University 2022 Commerce Question 40. It is one of the objective questions from the 2022 Post Utme Wellspring University Commerce examination.

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