Neco Model Questions Vol1 2019 Commerce Question 20

Practice objective / multiple choice question 20 from the 2019 Neco Model Questions Vol1 Commerce examination.

Neco Model Questions Vol1 2019 Commerce Objective / Multiple Choice Easy Difficulty
Question 20 NECO_MODEL_QUESTIONS_VOL1 • 2019 • COMMERCE • objective

A student deposits \(\text{₦}50,000\) in a bank account that pays simple interest at a rate of 5 % per annum. How much interest will the student earn after 3 years? Give your answer in naira.

Answer Options

A. ₦5,000
B. ₦10,000
C. ₦7,875
Correct Answer D. ₦7,500
Correct Answer
D
Correct Option:
₦7,500

About This Question

This is Neco Model Questions Vol1 2019 Commerce Question 20. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Commerce examination.

Difficulty level: Easy .

View More Neco Model Questions Vol1 2019 Commerce Questions More Neco Model Questions Vol1 Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support